Ann: Bianchi-1 Well - Drilling Update , page-5

Unfortunately this sort of announcement is usually negative. Its a sign they have not encountered anything at the depth where they the expected to intersect the formation and are drilling deeper as a Hail Mary attempt to find something. It's cost benefit analysis, the incremental cost of drilling an extra hundred meters when you have already sunk that much money into the well outweighs abandoning the well immediately.