TSXV:CEN.H - Post by User
Post by
CalifDreamingon Aug 29, 2008 8:12pm
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Post# 15421281
Quarterlies out - guidance 8 wells in '08...
Quarterlies out - guidance 8 wells in '08...Outlook
Coastal anticipates drilling up to 5 wells in the Songkhla oil field and up to 3 wells on an adjacent structure in the Gulf of Thailand during 2008. As a result of the drilling, the Company anticipates bringing oil production on stream in the Songkhla oil field in the fourth quarter of 2008 and production on stream in the Bua Ban field by mid 2009. In addition, the Company anticipates acquiring 2-D seismic in the northern part of its G5/43 Block in the Gulf of Thailand in late 2008.
Coastal anticipates Apico will drill the onshore Thailand Phu Keng well to test the shallower Dong Mung gas shows in Block L27 in late 2008.
It's a bit confusing as to what else is being drilled besides Songkla this year. Original plan was to drill 3 Bua Ban development wells late in the year - I presume that's still the plan since they are maintaining Bua Ban first oil mid '09.
Just gotta get this show on the road - latest presentation is calling for 20,000 boed by Q4 '09.
Still waiting on a PR about the new rig.