Chariot Limited Reports Positive Results from OBA-1 Well Drilling in Morocco | News Direct

Chariot Limited Reports Positive Results from OBA-1 Well Drilling in Morocco

Chariot Ltd
News release by Chariot Ltd

facebook icon linkedin icon twitter icon pinterest icon email icon London, UK | May 28, 2024 09:27 AM Eastern Daylight Time


Chariot Limited Technical Director Duncan Wallace joined Steve Darling from Proactive to share the results from the drilling of the OBA-1 well on the Dartois prospect, the second well in a two-well drilling campaign, in the Loukos Onshore licence in Morocco. The OBA-1 well was drilled safely and efficiently, on time and within budget, to a final measured depth of 901 meters through the target reservoirs.

Wallace explained that the comprehensive evaluation of the well data, including wireline logs, cuttings, and gas data, has led to a preliminary interpretation confirming the presence of reservoirs over an interval of approximately 200 meters in gross thickness. This corresponds to the pre-drill targets. Within this interval, an approximate 70-meter gross interval of primary interest has been identified, containing elevated resistivities coinciding with elevated mud gas readings, indicating potential gas pays. No water-bearing reservoirs were identified.

Further post-drill analysis will be conducted in preparation for well flow testing, which will determine the well's productivity and the gas resource potential of the discovery. The well will now be suspended to allow for future rigless flow testing operations and potential use as a producer well. The rig will then be demobilized.

Wallace also shared that Chariot is looking forward to an offshore drilling campaign planned for Q3 2024 on the Anchois gas field, in partnership with Energean. This campaign is expected to further bolster Chariot's position in the energy sector and expand its portfolio of gas projects.

In conclusion, the successful drilling and preliminary positive results from the OBA-1 well represent a significant milestone for Chariot Limited. The company remains committed to advancing its exploration and development activities in Morocco and is well-positioned to capitalize on the growing demand for natural gas in the region. With the upcoming offshore drilling campaign, Chariot aims to further enhance its resource base and deliver value to its shareholders.


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