Coastal says Thailand 3D survey imminent and updates on Nevada well
Wednesday, November 15, 2006
Coastal Energy Company is soon to begin an extensive 3D seismic survey over its wholly-owned offshore block G5/43 in the Gulf of Thailand.
The PGS vessel M/V Nordic Explorer will acquire approximately 330 square kilometers of high resolution 3D data over the entire western portion of the Songkhla basin in block G5/43. The area to be covered will include the Bua Ban oil field where three appraisal wells were drilled last year and proven and probable recoverable reserves are estimated at 9.7 million barrels.
The survey will also include the Benjarong field located to the south of Bua Ban, which Coastal Energy believes could be of similar reserve size to Bua Ban, and several untested prospects in the north western part of the Songkhla basin.
Coastal Energy added that it has completed the drilling of the 1-12 Cobble Cuesta well in Gabbs Valley, Nevada. The well encountered oil shows however further analysis is required in order to determine if additional work, including testing, is justified.
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