Interra spuds second Myanmar directional well

Submitted by Paddy Harris on Tue, 2014-07-08 08:16

08th July 2014

Interra Resources’ jointly controlled entity, Goldpetrol Joint Operating Company (Goldpetrol), has commenced drilling development well L 141 in the Chauk oil field in Myanmar

Interra spuds second Myanmar directional well

L 141 is being drilled using hired ZJ 750 rig to a total measured depth 792 metres

Interra has a 60 per cent interest in the improved petroleum recovery contract of the Chauk field and also owns 60 per cent of Goldpetrol which is the operator of the field.

L 141 is being drilled using hired ZJ 750 rig to a total measured depth 792 metres.

Interra’s share of the cost of drilling is funded from existing funds on hand.

L 141 is the second directional well to be drilled from the west bank of the Ayeyarwaddy River but will be the first well drilled under the river to have shallower reservoirs as the primary target. It will be drilled in an up-dip position to several older producing wells and if successful could set-up several offset locations.

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.