News

January 22, 2010

Coastal Energy’s First Exploration Well On The Songkhla B Field Offshore Thailand Proves A Little Disappointing But Hopes Remain High For Other Drilling In The Basin

Well, Randy Bartley, CEO of Toronto and London Aim listed Coastal Energy, always said he thought exploiting the Songkhla B field, on the company’s 100 per cent owned Block G5/43 in the Gulf of Thailand, would be geologically more testing than Songkhla Block A or Songkhla “Main” as it has become known.

It looks as if Randy was right, initially at least. The company has recently announced disappointing results from the first exploration well on Songkhla B, Songkhla B-01. This was spudded in early January and was drilled to a total measured depth of 9,050 feet targeting multiple objectives to the east of the main North-South fault that bisects Songkhla B. Despite encountering oil bearing sands within the Lower Oligocene, a breaching of the trap resulted in only 10 feet of net pay. This was in...