Coastal’s Bua Ban North B-06 finds oil

Offshore staff

HOUSTON – Coastal Energy Co. says its Bua Ban North B-06 well offshore Thailand encountered 69 ft (21 m) of net pay with 28% porosity and oil at 36º API. The well was drilled to TVD of 6,800 ft (2,073 m) into the Miocene.

The well also found 17 ft (5 m) of net pay with 22% porosity in the Eocene in the western upthrown fault block known as Bua Ban North Terrace.

Well testing with an offshore production unit awaits the drilling rig move off location.

"The lowest known oil in this fault block has been moved lower by 100 ft and has nearly tripled the extent of the structural closure to 425 acres,” said Randy Bartley, CEO of Coastal Energy. “The oil/water contact is much deeper than originally anticipated.

“Following this discovery, we will drill an additional well (B-07) to confirm the MDT data which indicate an oil/water contact at 3,825 ft (1,166 m). The B-07 well can be used for water injection. We then plan to drill a well (B-08) on the eastern side of the field and northeast of the B-03 well to further evaluate the full extent of this closure. If successful, this would materially increase the size of the productive field.”

06/15/2011