Coastal Encounters Largest Pay Zone to Date at Bua Ban

Coastal Energy Company, an independent exploration and production company with assets in Thailand, announced Tuesday the successful results of the Bua Ban North B-09 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 percent. Pay was encountered in the M75 zone for the first time, which represents a new productive zone for the field.

"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," Randy Bartley, President and CEO of Coastal Energy, said. "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."

"Testing of the first Bua Ban North A wells is expected to begin in the next week. MOPU installation and completion activities were delayed due to severe weather conditions, which disrupted certain parts of the supply chain, as well as damaged the crane on the MOPU, which has been repaired," Bartley continued.

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