Coastal Energy Company reports the successful results of the Bua Ban South A-03ST and A-05 wells.

The Bua Ban South A-05 well was drilled to a depth of 3,525 feet TVD approximately 1,650 feet to the east of the A-04 well. The well encountered 20 feet of net pay across two Miocene zones with average porosity of 29%, based on evaluation of downhole logs. The A-05 is downdip from the A-04, and moved the lowest known oil down by 50 feet in the Miocene. The oil water contactwas not encountered in either zone at this location, and further appraisal wells will be required to delineate the areal extent of this field.

The Bua Ban South A-03ST was drilled to a depth of 9,700 feet TVD. The well encountered 31 feet of net pay in the Lower Oligocene with 15% porosity, based on log analysis. The A-03ST is approximately 5,700 feet to the north of the Bua Ban South A-01 Oligocene discovery. The well encountered 325 feet of reservoir in the Eocene with 11% porosity. It has been cased and will be utilized to test a multi-stage fracturing program once production facilities arrive.

Tags: Coastal Energy