Coastal Energy Discovers Gas Onshore Thailand

Coastal Energy Company has announced discovery and production testing results from the Dong Mun 3 onshore gas well and acquisition of increased working interest there.

Onshore

Dong Mun 3 well, located on Block L27/43 onshore Thailand, reached a total depth of 2,539 meters and encountered a vertical gas column of approximately 113 meters. The well was flow tested for 24 hours and produced at an average rate of 15 mmcfd with flowing pressure of 1,950 psi through a 32/64" choke. Further testing, appraisal and commercialization options for the Dong Mun are being .

Offshore

Coastal Energy has drilled two additional producing wells and one water injection well at Bua Ban North. One of the producing wells was drilled horizontally, has been tied in and is currently producing. The Company has two more wells to bring online at Bua Ban North. Current offshore production is averaging 26,000 bopd, bringing total company production to 28,000 boepd. The rig is now being mobilized to Bua Ban South and is expected to spud the first well there by the end of February.