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Coastal Banks on Bua Ban South A-01 Pay

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Coastal Energy, an independent exploration and production company with assets in Thailand, announced Tuesday the successful results of the Bua Ban South A-01 well.

The Bua Ban South A-01 well was drilled to a total depth of 8,500 feet TVD. The well encountered 88 feet of net pay in the Lower Oligocene section. The new discovery demonstrated good reservoir characteristics with 12 percent porosity and recorded pressure data indicate that this is a new and separate accumulation from the Bua Ban Main field.

The successful results of Bua Ban South A-01 are being incorporated into the ongoing technical review, operational planning and guidance on the potential size of the discovery will be forthcoming once complete.

The Lower Miocene sands which were present in the Bua Ban Main A-11 well were not present in this particular fault block.

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

"The Bua Ban South A-01 well has discovered a new oil accumulation. This successful well has re-enthused us for the Lower Oligocene at the Bua Ban South area. We will also be testing two adjacent upthrown Miocene fault blocks with the next two wells."

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
snakes alive | Mar. 13, 2012
I think that the dream just keeps getting better as the clock ticks! Management reminds me of bexp that went from 3.95 to 36.50 when bought out by statoil recently. Last dec 2011 this stock was 5.60 and people complained that it was pk- well all that missed this huge move in 1 year to 20.00-- as they say, " read them and weep". This stock is fairy-tail - organic growth,huge upside, takeover potential,political risk hedge, economic growth hedge, year end numbers, 1st numbers, reserve report that is due any time now, heavy insider buying , huge brokerage footprint and more and more eyeballs are getting involved daily- just a few days ago we hit record volume! Planning on getting a "tat" that reads Coastal! Personally, i do not think that coastal will be around at the end of 2012- i think someone like chevron, hes, India,China or Thailand Oil buys them out for 35-40-- of course the successful trend must continue with additional oil production!

snakes alive | Mar. 13, 2012
I think that the dream just keeps getting better as the clock ticks! Management reminds me of bexp that went from 3.95 to 36.50 when bought out by statoil recently. Last dec 2011 this stock was 5.60 and people complained that it was pk- well all that missed this huge move in 1 year to 20.00-- as they say, " read them and weep". This stock is fairy-tail - organic growth,huge upside, takeover potential,political risk hedge, economic growth hedge, year end numbers, 1st numbers, reserve report that is due any time now, heavy insider buying , huge brokerage footprint and more and more eyeballs are getting involved daily- just a few days ago we hit record volume! Planning on getting a "tat" that reads Coastal! Personally, i do not think that coastal will be around at the end of 2012- i think someone like chevron, hes, India,China or Thailand Oil buys them out for 35-40-- of course the successful trend must continue with additional oil production!


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