Dublin listed exploration group Dragon Oil today said it was “disappointed” with the overall results from the exploration drilling programme in Yemen.
In a statement today the company said while oil and gas shows were encountered at the Dhulai'h-1 exploration well, testing operations did not produce any hydrocarbons and the well was plugged and abandoned.
It added the Daw'an South-1 had only very slight oil shows and was declared dry. The well has been plugged and abandoned.
The test on basement at the Tasilah West-1 well revealed only water and the well has been plugged and abandoned, and the rig has been released, the company said.
However, the group also said it found oil at the West Ghobata-1 well and added the total tested light oil rate was about 40 barrels of oil per day. The company added the West Ghobata-1 well is still under evaluation.
At 3.10pm shares in Dragon Oil were trading down just over 6 per cent on €5.96.