Bua Ban gets even better for Coastal Energy

Offshore staff

HOUSTON – Coastal Energy Co. reports its Bua Ban North A-06 well found oil.

Drilled to TVD of 5,950 ft (1,814 m), the well found 63 ft (19 m) of net Miocene pay with average porosity of 28%. Coastal says this is better than what was found on the A-01 well.

"We are very pleased with the results of the Bua Ban North A-06 well,” said Randy Bartley, CEO. “Based on log and pressure data, the areal coverage of this western fault block has increased from 160 acres to over 500 acres. The better than expected reservoir quality indicates the A-06 should make an excellent producing well.

“We plan to drill an additional well further north in this fault block to further test the area between Bua Ban North A & B in the western fault block.

"The mobile offshore production unit is expected to be on location at Bua Ban North A in late October, at which time we will begin production testing at the field."

09/23/2011



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