Coastal Energy Company announced that the Songkhla A-01 well was spudded on Wednesday, October 8, 2008. Songkhla A-01 is the first well in the Company's development program of the Songkhla field located in Block G5/43 offshore Thailand.
The Company plans to drill Songkhla A-01 to a total depth of approximately 8,500 feet (2,590 meters) true
A Competent Persons Report ('CPR') prepared by Huddleston and Co., Inc. estimates the Proven and Probable
In August 2008, Coastal's wholly owned subsidiary signed a LOI with Deep Drilling 7 Pte. Ltd. for a three-month charter of the newbuild jackup rig Deep Driller 7, which is being used to drill several wells in the Songkhla block.
In addition to the undeveloped discovered fields, the Company has also identified numerous undrilled prospects along the northwest margin of the Songkhla basin.
Randy Bartley, Chief Executive Officer of Coastal Energy commented, "We are excited to begin our development of the Songkhla field. We continue to anticipate completion and testing of Songkhla A-01 by late October and an
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