Coastal Announces Initial Flow Rate from Songkhla A-10 Well in Gulf of Thailand

Coastal Energy Company announces the initial flow rate from the Songkhla A-10 well.

The Songkhla A-10 well was completed using an electric submersible pump and is initially flowing approximately 4,000 bopd while still cleaning up. The next well, the A-13, has been spudded and will test the northeastern fault block at Songkhla A.

Randy Bartley, President and Chief Executive Officer, commented:

We are pleased with the initial flow rate from the A-10 well. We expect some additional gains in production as the well continues to clean up. Current offshore production is 23,000 bopd with total company production at 25,500 boepd.

The A-13 well is an exploration well testing a step-out prospect across the fault line in the northeastern area of Songkhla A. If successful, it will add additional reserves and open up a new area for further appraisal and development.”

[mappress]
Press Release, September 25, 2012