| Myanmar Drilling Update - Drilling Commencement of CHK 1195 | |
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Microsoft Word - Myanmar Drilling Update - CHK-2015-01 Drilling Commencement of CHK 1195
INTERRA RESOURCES LIMITED
Company Registration No. 197300166Z
SGX ANNOUNCEMENT
SGX Code: Interra Res (5GI)
05 December 2014
MYANMAR DRILLING UPDATE: DRILLING COMMENCEMENT OF
CHAUK DEVELOPMENT WELL CHK 1195
Interra Resources Limited (the "Company" or "Interra") wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. ("Goldpetrol"), has commenced drilling development well CHK 1195 in the Chauk oil field in Myanmar.
Interra has a 60% interest in the Improved Petroleum Recovery Contract of the
Chauk field and also owns 60% of Goldpetrol which is the operator of the field. CHK
1195 is being drilled using hired ZJ 750 rig to a total measured depth of 2,650 feet. Though drilling has commenced in December 2014, CHK 1195 is the first well to be drilled in the approved 2015 budget. Interra's share of the cost of drilling is funded from existing funds on hand.
CHK 1195 will be the seventh well drilled by Goldpetrol in a continuation of the successful development programme of directional drilling under the Ayeyarwaddy River from the east bank in northern Chauk field and will attain a high angle of deviation reaching an expected maximum of 56 degrees. The well is drilled as an up-dip development well to CHK 1193 which was completed in September 2014 at
150 barrels of oil per day and will have the primary objective of accelerating production from the oil reservoirs that produce from this and other nearby wells.
Interra estimates that the results of the drilling and completion should be available in approximately six weeks. The Company will announce the results as soon as they may be ascertained as well as updates reflecting critical or unexpected events during drilling.
By Order of the Board of Directors of
INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer
About Interra
Interra Resources Limited, a Singapore-incorporated company listed on SGX Mainboard, is engaged in the business of oil and gas exploration and production (E&P). Our E&P activities include oil and gas production, field development and exploration. We are positioning ourselves to become a leading regional independent
producer of oil and gas.
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com
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InTerra Resources Corp.
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CODE : ITRX |
ISIN : US4607071028 |
CUSIP : 460707 10 2 |
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InTerra Res. is a gold exploration company based in Canada. InTerra Res. is listed in United States of America. Its market capitalisation is US$ 439 300 as of today (€ 410 570). Its stock quote reached its lowest recent point on December 28, 2016 at US$ 0.00, and its highest recent level on July 16, 2021 at US$ 0.29. InTerra Res. has 19 100 000 shares outstanding. |