Thailand: Coastal Bua Ban North B-09 Well Encounters Net Pay

Coastal Energy Company, an independent exploration and production company with assets in Thailand, announces the successful results of the Bua Ban North B-09 offshore well.

The Bua Ban North B-09 was drilled as an appraisal well between the southernmost Bua Ban North B-04 well and the Bua Ban North A-09 well. The well was drilled to a depth of 5,200 feet TVD and encountered five Miocene pay zones. Total aggregate net pay in the well is 175 feet with average porosity of 27%. Pay was encountered in the M75 zone for the first time, which represents a new productive zone for the field.

Randy Bartley, President and CEO of Coastal Energy, commented:

“The Bua Ban North B-09 well encountered the largest pay zone we have seen to date in this field. We are particularly excited that we have encountered oil across five Miocene zones. This confirms the lateral extent of the deeper pay zones below our main producing reservoir. Following this successful result in the deeper zones, we plan to drill further appraisal wells to continue testing the 63.0 mmbbl of prospective resources defined in the RPS report of November 15, 2011, which are incremental to the 67.0 mmbbl of 2P volumes defined in the report.”

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Offshore Energy Today Staff, December 21, 2011; Image: Coastal Energy Company