London-listed Petroceltic International has failed to strike across three wells in Iraq, Romania and Egypt.

Two of the wells failed to return any hydrocarbon potential, while the third encountered good reservoir quality but found to be water wet.

The Shakrok-1 well in the Kurdistan region of Iraq on the Shakrok licence reached total depth of 3538 metres where the company carried out drill stem tests over four zones.

Petroceltic said the well failed to flow hydrocarbons to the surface.

In Romania, the Muridava-1 exploration well at the Muridava licence.

The well was drilled to total depth but the company failed to hit commercial quantities of hydrocarbons in the Eocene, Paleocene and Upper Cretaceous reservoir targets.

It is now being plugged and abandoned, with the rig set to be demobilised from the location.

Petroceltic’s South Dikirnis-1 well in Egypt reached a total depth of 2895 metres where it was targeting a stratigraphic trap in the Miocene formation.

The company found good quality sandstones but open hole log analysis found the reservoir was water-bearing.

Chief executive Brian O’Cathain said the results were disappointing but the company was moving onto its next well.

“We now look forward to drilling the Shireen-1 well on the Dinarta concession as the next well in our 2014 drilling programme,” he said.