Chariot Oil & Gas Limited (CHAR), the Atlantic margins focused oil and gas exploration company,
announces the result of the well on the Rabat Deep Permits in Morocco (Eni Maroc B.V. 40% (operator),
Woodside Energy (Morocco) Pty Ltd 25%, ONHYM 25%, Chariot Oil & Gas Investments (Morocco) Limited
10%). Chariot was fully carried for the drilling of the Rabat Deep 1 well as part of the farm-out to Eni which
was approved in January 2017.
The Rabat Deep 1 has been drilled to a total measured depth of 3,180m to test the JP-1 prospect. The well
penetrated a thick top seal and drilled into the primary target encountering tight, fractured carbonates as
evidenced by extensive losses of drilling fluid. As a consequence, only limited cuttings were recovered from
the primary target and some limited hydrocarbon indications were observed. Electric log data and side-wall
cores have been acquired and detailed analyses will now be undertaken. The data collected will be used to
calibrate the existing data sets to understand the implications of the well results on the prospectivity of the
The well, which was operated by Eni Maroc B.V. and drilled by the Saipem 12000 drillship, will now be
plugged and abandoned.
Larry Bottomley, CEO, commented:
“Whilst the results of the Rabat Deep 1 well are very disappointing, the fact that we encountered tight
carbonates in the Jurassic target with a thick top seal will be invaluable in calibrating the existing data sets
and determining the implications for the prospectivity in the Rabat Deep Permits. Rock properties from the
top seal and some thin sands encountered in the overburden will allow an improved description of the
Cretaceous siliciclastic play that Chariot is targeting in the neighbouring Mohammedia and Kenitra permits
where we operate with 75% equity.
We will continue to evaluate the well data and the implications of these results on the surrounding area,
before discussing next steps with our partners Eni, Woodside and ONHYM.
Separately, Chariot is on track and fully funded to drill Prospect S in Namibia in the second half of 2018 targeting a gross mean prospective resource of 469mmbbls. We will update the market as progress is made towards the commencement of drilling.”
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