Released on: October 9, 2007, 5:52 pm

Press Release Author: Peter Hamilton

Industry: Energy

Press Release Summary: Tricoastal Oil & Gas Ltd. is a leading independent oil and gas exploration and development company based in Liberia on the West African Coast. Our goal is to explore for new petroleum and natural gas reserves in countries with low political risk, good fiscal regimes, low government taxation and growing population demands. We also are actively seeking to acquire significant tenement interests in projects with short to medium term production potential.

Tricoastal Oil & Gas Ltd. is seeking to establish a balanced portfolio of high risk/high reward exploration projects with low risk/moderate reward acreage in producing basins. With the judicious use of technical and financial consultants project overhead costs can be minimized and new exploration ideas and technical innovation can be brought into the regions of interest.

Press Release Body: It is a matter of policy at Tricoastal Oil & Gas Ltd. to protect the environment during all exploration and production processes and to provide safe working conditions for all staff involved.

No sector of the Oil and Gas exploration and production industry has been enhanced as much as the offshore sector.

With todayРІР‚в„ўs advanced geological and geophysical technologies reserves are being replaced faster and more cost-effectively than ever before. Now geologists and geophysicists can explore broader areas and evaluate more data with more accuracy.

Innovative analysis, visualization and automation tools make it easier to spot and validate offshore reservoir characteristics and optimize drilling targets across areas covering thousands of square kilometers.

To succeed in the demanding environment of offshore exploration and deepwater drilling, oil companies are utilizing newly developed technologies and services that reduce risk, help them understand their reservoirs, increase operational efficiency, and assure peak production. These new technologies include advanced drilling systems for drilling through salt, cost-efficient formation evaluation services from complex geologies, leading systems for HP/HT completions, and chemical programs to assure flow and control corrosion.

Although water depth itself is not a problem for formation evaluation, the dramatic change in geological environment and the physical attributes of that environment are demanding. Unconsolidated sands, thinly laminated sands, and heavy oil in deepwater plays can create significant evaluation challenges. Other considerations are correlation with 3D seismic data to better determine reservoir size, time depth modeling to improve the drilling process and event recognition, and the critical evaluation of type and quality of hydrocarbons in place.

Finally, the determination of reservoir quality, hydrocarbon volumes and producibility in potentially macro-scale reservoirs are important parameters for a successful development program.

Information value and operational efficiency are paramount because rig costs can exceed US$ 300,000 per day.

Tricoastal Oil & Gas Ltd.’s working in conjunction with its primary partners is helping to bring these 21st century technologies and procedures to the new developing frontiers of oil and gas exploration.

Web Site: http://www.tricoastaloilandgas.com

Contact Details: Peter Hamilton

C/O Talbot and reese, Inc.
Talbot and Reese, Inc.

Corporate Office:
Shinjuku Monolith, 16th Floor,
2-3-1 Nishi-Shinjuku, Shinjuku,
Tokyo 163-0916 Japan

Phone: +81-3-458-02055
Fax: +81-3-449-65096