Coastal Energy has hit, miss offshore Thailand in Bua Ban South drilling

Coastal Energy Co. (TSX:CEN) (AIM:CEO) has a hit and miss in the latest two wells drilled offshore Thailand in the Bua Ban South area.

Offshore staff

HOUSTON –Coastal Energy Co. (TSX:CEN) (AIM:CEO) has a hit and miss in the latest two wells drilled offshore Thailand in the Bua Ban South area.

Bua Ban South A-02 encountered 8 ft (2.5 m) of net pay in the Lower Oligocene on its way to a TD of 8,275 ft (2,522 m). An oil/water contact at 8,120 ft (2,475 m) indicates an oil column of 1,800 ft (549 m), says Coastal.

The Bua Ban South A-03 well was drilled on the western terrace of the main bounding fault of theBua Ban field and encountered Miocene sands with no hydrocarbon shows.

“We have spudded the Bua Ban South A-04 well,” says Randy Bartley, president and CEO of Coastal Energy. “It is a Miocene objective in the eastern flank fault block. The A-04 well is being drilled 2,500 m (1.55 mi) south of the original Bua Ban Main A-11 Miocene discovery in the continued attempt to delineate the southern boundary of that Miocene accumulation.”

3/29/2012

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