Tuesday, September 8, 2009

Canadian Stock Research - Coastal Energy Company

Canadian Stock Research News Update:

"Coastal Energy Announces Update of Onshore Operations"

HOUSTON, Sept. 8 /CNW/ - Coastal Energy Company (the "Company" or "Coastal") (TSX-V: CEN, AIM: CEO), an independent exploration and production company with assets in Thailand, announces that the Phu Kheng-1 exploration well on Block L27/43 in north-eastern Thailand has reached total depth and has been suspended pending a hydraulic fracturing stimulation and test. Coastal is the largest holder of Block L27/43 with a 36.1% net working interest.

The well was drilled to a total depth of 2,204 meters sub-sea and encountered Jurassic and Triassic sandstones in the Phu Kradung and Nam Phong formations. Initial log interpretation confirms that the formation is gas-saturated with low porosity and permeability and that further evaluation and testing is required to determine the commercial viability of the well. The operator plans to test the well within the next four to eight weeks subject to workover rig availability.


This Canadian Stock Research news update comes courtesy of StockResearchPortal. To view the complete version of this news release visit Stock Research Portal