I bought some CEO today, I have a feeling I am going to make some money from this over the coming months. Below is some research.

Coastal Energy Company (formerly Petroworld Corp) was established when Petroworld acquired all outstanding shares of  NuCoastal (Thailand) Limited.

Coastal Energy is an international exploration and production company focused on Southeast Asia. The Company's current operations are based in Thailand where it has production from the onshore Phu Horm gas field and oil from the Songkhla field in  the Gulf of Thailand. There are development and exploration opportunities for further gas onshore and more oil offshore.

Coastal Energy Company, as PetroWorld Corp.,was incorporated in the Cayman Islands in May, 2004 and began trading on the London AIM market in January, 2005 and on the Toronto TSX-V in September of the same year. In early 2006 the Company announced a merger with NuCoastal Thailand Limited, a privately owned company with assets in Thailand. The merger was completed in September 2006 and the name of the company changed to Coastal Energy Company.

 

Coastal has a 12.6 per cent interest the Phu Horm gas field which is on Licence L15/43 onshore north east Thailand, in an area known as the Khorat Plateau. The field started production in November 2006 and currently supplies gas under a 15-year contract to the Nam Phong power station, located approximately 62 kilometres south of the field.

There are thought to be opportunities for development and exploration of further gas resources in three other blocks in the area in which Coastal has an interest, most notably on Block 27/43 which is close to but not contiguous with Block 15/43.

Coastal has established oil production after revisiting a 1968 Premier Oil discovery in the Songkhla field on BlockG5/43. Coastal now owns 100 per cent of this licence. Production was established early in 2009 and grew steadily throughout this year as five development wells were drilled back to back on the Songkhla A field. The company believes that further hydrocarbons could be recovered from the Benjarong field where testing of two exploration another has taken place. This field is on the G5/43 licence. Coastal is also keen to exploit another discovered field for which the company now owns 100 per cent of the licence. Bua Ban is again on the G5/43 licence and is thought to hold 21 million barrels…

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