Coastal Hits Oil Pay Offshore Thailand



Coastal provided a logging update at the Bua Ban field: the Bua Ban A-01 well was drilled to a total depth of 7,725 feet (2,355 meters) true vertical depth, encountering 24 feet (7 meters) of net pay in the Lower Oligocene reservoir with 16.5% average porosity. Drilled to a total depth of 7,722 feet (2,354 meters) true vertical depth, the Bua Ban A-02 well encountered 26 feet (8 meters) of net pay in the Lower Oligocene reservoir with 16.5% average porosity. Additionally, the Bua Ban A-05 well was drilled to a total depth of 7,492 feet (2,284 meters), encountering 170 feet (52 meters) of net pay in the Upper and Lower Oligocene reservoirs with average porosity of 15%. The A-05 well encountered an expanded Lower Oligocene section containing 85 feet (26 meters) of net pay and six distinct oil reservoirs over a gross interval of 832 feet (254 meters). Coastal Energy is now performing completion activities on all three wells and plans to tie-back the wells to commence production. Following completion activities, Coastal will drill up to seven more development wells at Bua Ban. The Bua Ban field is located on Block G5/43 in the Gulf of Thailand, which Coastal Energy wholly owns and operates.

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