Coastal Energy Announces Successful Appraisal Well at Bua Ban North A

Coastal Energy Company (TSE:CEN) reported the results of the Bua Ban North A-07 appraisal well.

The press release is quoted as saying:

The Bua Ban North A-07 well was drilled to a depth of 3,750 feet TVD on the eastern flank of the Bua Ban North A field 1.3 miles south of the A-05 discovery well. The A-07 encountered 48 feet of net pay sands in the primary Upper Miocene objective with 26% average porosity.

Coastal Energy Company’s President & Chief Executive Officer, Randy Bartley commented:

“The A-07 well confirms that the eastern fault block of the Bua Ban North A field extends to the south and that the structural closure of this fault block is approximately 600 acres, which is in line with expectations. The well encountered approximately 14 feet more net pay than was seen in the upper section of the Miocene in the A-05 well, with an additional 15 – 20 feet of pay sand which may be present below logged TVD.

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