Operations
The company's current asset base is in Thailand, where Coastal has interest in two production licences and four exploration concessions. The two production licences, EU1 and E5N, which contain the Phu Horm gas field, are located in the northeast part of Thailand in an area referred to as the Khorat Plateau. The field commenced production in November 2006 and currently supplies gas under a 15-year contract to the Nam Phong power station, located approximately 62 kilometres south of the field.
The four exploration concessions are located onshore and offshore and contain several underdeveloped oil and gas discoveries.
The Company continues to review new business opportunities on a corporate and asset level. Thailand provides a stable long term base for the Company and a foundation for future growth in Asia. Technical reviews have already been conducted in several other Asian countries including China, Indonesia, Vietnam and India.
