Resource World Magazine

Oil a Nd g a s Coastal Energy reports 4,000 bopd at Thailand well Coastal Energy Company [CEN-TSX; CEO-AIM] reported the initial flow rate from the Songkhla A-10 well offshore Thailand. The company owns a 100% interest in Blocks G5/43 and G5/50 in the Gulf of Thailand. The current combined area of the blocks is approximately 4,926 km2 (1.22 million acres) spanning across the Songkhla, Nakhon and Ko Kra basins. Cosatal Energy holds two approved 20-year production licenses on Block G5/43, one for the Songkhla field and one for the Bua Ban field which cover 357 km2 in the Songkhla basin and encompass its three producing fields – the Bua Ban North, Bua Ban Main and Songkhla. Earlier this year, the company reported new oil discoveries in the Bua Ban South field, which it intends to bring online later this year. Coastal Energy's offshore Thailand assets host 2P (proven + probable) reserves of 127.7 mmbbl net to the company. The licenses feature over 30 identified prospects comprising about 450 mmbbl of prospective resources, as estimated by management. The Songkhla A-10 well was completed using an electric submersible pump and is initially flowing approximately 4,000 bopd while still cleaning up. The next well, the A-13, has been spudded and will test the northeastern fault block at Songkhla A. Randy Bartley, President and CEO, said, "We are pleased with the initial flow rate from the A-10 well. We expect some additional gains in production as the well continues to clean up. Current offshore production is 23,000 bopd with total company production at 25,500 boepd. The A-13 well is an exploration well testing a step-out prospect across the fault line in the northeastern area of Songkhla A. If successful, it will add additional reserves and open up a new area for further appraisal and development." Coastal Energy also has entered into a Small Field Risk Service Contract with Petroliam Nasional Berhad (PETRONAS) for the development and production of petroleum from the Kapal, Banang and Meranti cluster of small fields (the KBM Cluster) offshore Peninsular Malaysia. Coastal is the operator of the KBM Cluster fields and intends to hold a 70% equity interest alongside a 30% interest local partner. n 5 only $59.9 Subscribe today – 2 years $142.40 SAVE 50% up to online at www.resourceworld.com or phone 1.877.484.3800 Name aDDreSS CIty pHoNe e-maIl resource World (print edition) 1 year ($39.95) resource World (print edition) 2 years ($59.95) resource World (print and Digital edition) 1 year ($49.95) resource World (Digital edition) 1 year ($29.95) 709-700 W pender st., Vancouver Bc V6c 1g8 canada 56 www.resourceworld.com prov. poStal CoDe resource World (Digital edition) 2 years ($49.95) resource World (print and Digital edition) 2 years ($89.95) resource World (print) 1 years ($104.00) renew my subscription Canadian subscribers please add applicable sales tax * Resource World does not sell your information to third parties NOVEMBER 2012

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