Coastal Energy Encounters New Discovery in Gulf of Thailand

11 May 2011 (Last Updated May 11th, 2011 18:30)

Coastal Energy Company has made a new discovery in the Bua Ban North B-02 well in the Gulf of Thailand. The well, which was drilled to a total depth of 6,513ft, encountered 62ft of net pay in the Miocene objective with 26% average porosity. It also tested the Eocene interval hitting 15

Coastal Energy Company has made a new discovery in the Bua Ban North B-02 well in the Gulf of Thailand.

The well, which was drilled to a total depth of 6,513ft, encountered 62ft of net pay in the Miocene objective with 26% average porosity. It also tested the Eocene interval hitting 150ft of net sand with 19% average porosity.

The B-02 well is cased and operations have stopped until the testing equipment arrives.

The company sent a conductor pipe on the B-03 well testing the Miocene in a separate fault block due east of the B-02 well.

Coastal Energy CEO Randy Bartley said the B-02 well encountered thicker sands in the Miocene than were anticipated, with better-than-expected reservoir quality.

“The Eocene zone encountered was not a target in this well, but delivered the highest reservoir quality sands we’ve seen to date in the Eocene interval,” said Bartley. “The reservoir characteristics in the Eocene are better than what we have modelled at this depth.”