"The new discovery at Bua Ban North is encouraging. This is the first test of one of the multiple fault blocks surrounding the Bua Ban North field which contain 67.5 mmbbl of unrisked recoverable prospective resources. Following the successful results of this well, we expect further additions to our existing reserve base at Bua Ban North. The oil shows in the deeper Miocene sands are also encouraging and will give us additional prospectivity in these horizons updip on the structure."Although no commercial hydrocarbons were encountered in the Ko Kra A-01 well, we are encouraged by the results. This was the first well drilled in the basin using modern 3D seismic and we saw many characteristics of an active hydrocarbon system. Further analysis of the data from this well, will give us a better understanding of the petroleum system and help us generate additional prospects in the Ko Kra basin.
Coastal Energy Announces Operations & Guidance Update And Successful Exploration Results
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