Coastal Energy Company announces the successful results of the Bua Ban North B-04 appraisal well.
The Bua Ban North B-04 well was drilled to 6,000 feet TVD and encountered 64 feet of net pay in the Miocene objective with average porosity of 27%. The B-04 confirms the discovery made by the B-02 well, which encountered 62 feet of net pay in the Miocene with 26% porosity. The B-04 well is currently being cased and will then be suspended pending the arrival of production equipment. The Company plans to drill a water disposal well before mobilizing the rig to its next planned location.
Randy Bartley, Chief Executive Officer of Coastal Energy , commented:
“We are pleased with the continued success in the Miocene trend at Bua Ban North B. Drilling is expected to be complete by mid-June and the Mobile Offshore Production Unit is scheduled to arrive in late June. A hydraulic unit will be used for completion operations and production testing is anticipated to begin in mid-July.
“The B-04 well further confirmed the Miocene trend at Bua Ban North B and the potential of the Miocene play across the Songkhla basin. Following Bua Ban North B, the rig will be mobilized to the Songkhla H prospect, which is in the middle of the basin between Songkhla A and Bua Ban. An exploration well will be drilled to test the Miocene and deeper zones at this location.”
[mappress] Source: Coastal Energy , June 7, 2011;