Coastal Gets Green Light for 2D Seismic in Gulf of Thailand
Coastal has received government approval of its Environmental Impact Assessment ("EIA") for a 2D seismic acquisition program over the Ko Kra and Nakhon basins in the northern part of the Company's G5/43 Block and covering the entire G5/50 Block in the Gulf of Thailand.
The Company expects the 4,000 km 2D seismic acquisition to begin in mid-September. Processing and interpretation is expected to be complete in the first quarter of 2010. The Company is obligated to drill one well in the area in 2010 as part of its concession agreement for Block G5/50.
Randy Bartley, President and Chief Executive Officer of Coastal Energy commented, "The Ko Kra and Nakhon basins offer exciting long-term exploration potential. The 2D seismic acquisition will help us better evaluate the more prospective areas of the basin and identify the best approach to our exploration program."
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