Coastal Energy Announces Discovery at Bua Ban North B

Coastal Energy Company (TSXV:CEN) reports results of the Bua Ban North B-01 exploration well.

The press release is quoted as saying:

The Bua Ban North B-01 well was drilled to 7,960 feet TVD and encountered 28 feet of net pay in the Upper Oligocene with 23% average porosity and 29 feet of net pay in the Lower Oligocene with 16% average porosity. Net pay estimates are based on log analysis, shows and MDT analysis; the well has not been flow tested. The Company estimates that this fault block contains a total of 13 million barrels of oil in place across these two intervals.

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