TSXV:CEN.H - Post by User
Post by
tony0911on Jan 07, 2010 7:24pm
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Post# 16652488
Pescod's Late edition
Pescod's Late edition
The chart to the left tells you what we’ve gone through over the last while in the financial markets. Coastal Energy was an interesting story with a great management team with assets in Thailand and offshore Thailand. However, two years ago they didn’t have much other than hope going for- ward.
Now they are up close to 10,000 barrels a day and they spudded the Songkhla-B prospect just before Christmas and there should be results out some time in the next while. The fact that Coastal is heading up strongly in the last few days suggests that this well might have come up with something for it to be making a move like this.
We caught up with Fred Kozak who has been advocating this story for some time (as has Keith Schaefer of the Oil and Gas Investments Bulletin) and Fred tells us the signifi- cance of what is going on. There are two blocks on this tar- get that they are drilling and the two faults have targets— one of potentially 30 million barrels, the other of 70 million barrels. Needless to say, if both of them hit, this story is going to the moon. If not...well, this folks is what explora- tion is all about.