Coastal Energy Co (LON:CEO) announced today an update of its operations at the Thai prospects Songkhla A, Songkhla B, Phu Kheng-1 and Si That-3.
Coastal Energy, incorporated in 2004, 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 development opportunities in the Gulf of Thailand.
The company reported today that work at Songkhla A is near completion and the well is expected to produce within the next two days. At Songkhla B, the repairs to the rig have been completed, and the board expect to recommence drilling operations on Wednesday (24/02/10).
At Phu Kheng-1, in which Coastal Energy has a 36.1% working interest, a second hydraulic fracturing testing program is planned, targeting two shallower intervals in the Phu Kradung sandstones. The first fracturing investigation revealed good gas shows during drilling and logging analysis, suggests better porosity and permeability than in the recently tested, deeper zone. The board have secured a hydraulic workover unit and expect the testing program to start again in early March.
At Si That-3, in which Coastal has a 21.7% working interest, operations have been suspended following the completion of a Production Logging Tool survey, revealing no free gas flow from the reservoir above the water zone.
