Coastal Energy has hit pay in its Bua Ban North A-03 exploration well. The well was drilled to a total depth of 5,346 feet (1,629 meters) and made a discovery in the Miocene interval, encountering about 125 feet (38 meters) of net pay with 28% average porosity.
The A-03 well tested a fault block which is south of and deeper than the Miocene discoveries in the A-01 and A-04 wells. Coastal predicts that this fault block holds nearly 20 million barrels of oil-in-place. The company plans to suspend the well and then complete it with a workover rig once the MOPU arrives on location in mid-May to begin production testing.
The Bua Ban field is located on Block G5/43 in the Gulf of Thailand. Coastal Energy wholly owns and operates the block.
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