Chariot Oil & Gas failed to find hydrocarbon deposits in the offshore Moroccan Rabat Deep exploration well, for which they have a 10% interest, Proactive Investment reported.

The well was drilled to depth of 3,180 meters and encountered no oil or gas, although it did penetrate a pocket of tight, fractured carbonates.

Chariot’s expenses for the well were covered by their partners in the concession due to prior farm-out deals. Eni is the primary operator of the concession.

“While 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 prospectively in the Rabat Deep Permits,” Larry Bottomley, Chariot chief executive stated.

“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 neighboring Mohammedia and Kenitra permits where we operate with 75% equity,” he continued.

“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.”