News

November 27, 2008

Coastal's Energy Comes Up With Another Successful Well In The Gulf Of Thailand

Coastal Energy, the London AIM and TSX Venture listed junior, having announced it had struck maiden oil on its acreage in the Gulf of Thailand has now reported that a second development well, the Songkhla A-03, has been successfully completed. The well is on the 17,000 sq km G5/43 block.

Songkhla A-03 was drilled to a total measured depth of 9,500 feet (2,895 metres) and logged approximately 110 feet (34 metres) of net pay with 18 per cent porosity in the Lower Oligocene primary reservoir. The well came in approximately 47 feet higher compared to the A-01 well which struck oil for Coastal. Completion casing has been run and the rig has commenced drilling operations on the Songkhla A-07 well. The company plans to complete the Songkhla A-03 and A-07 wells once an additional...