Coastal makes new find in Gulf of Thailand

StockMarketWire.com – Coastal Energy has revealed a new discovery at Bua Ban North in the Gulf of Thailand.

Coastal said the Bua Ban North A-03 exploration well was drilled to 5,346 feet TVD and made a discovery in the Miocene interval.

The well encountered 125 feet of net pay with 28% average porosity.

The A-03 tested a fault block which is south of and deeper than the Miocene discoveries in the A-01 and A-04 wells.

The company estimates that this fault block contains approximately 20 million barrels of oil in place.

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