Coastal Energy Company announces that the Bua Ban North A-01 exploration well has encountered 32 feet of net pay in the Miocene interval and 27 feet of net pay in the Upper Oligocene interval, both with 25% average porosity.
The Eocene interval was encountered approximately 700 feet deeper than originally prognosed and contained 70 feet of oil bearing sands with 14% porosity; however, given the low porosity and permeability it is not expected to flow naturally.
The Company is currently mobilizing a MOPU to the location and plans to begin flow testing the well once facilities installation is complete. The Bua Ban North A-02 well has been spudded and will test Miocene, Oligocene, and Eocene targets similar to those in the A-01 well in an upthrown fault block.
The Bua Ban production license covers approximately 279 square kilometers in the Gulf of Thailand. Bua Ban well head and processing platforms were installed in the first quarter 2010.
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Source: Coastal Energy , March 10, 2011;