Interra completes drilling at L 140 well in Myanmar's Chauk oil field

7/8/2014

Interra completes drilling at L 140 well in Myanmar's Chauk oil field

SINGAPORE -- Interra Resources Limited (Interra) informed its shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc (Goldpetrol), has completed development well L 140 in the Chauk oil field in Myanmar as an oil producer.

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. L 140 was drilled using hired ZJ 750 rig to a total measured depth of 3,650 ft and Interra’s share of the cost of drilling was funded from existing funds on hand.

L 140 is the sixth and most technically challenging directional development well drilled under the Ayeyarwaddy River and the first to be drilled from the west bank. The primary objective is to accelerate production from the oil reservoirs that produce in this portion of the northern Chauk oil field, and after four days of production testing L 140 has been completed through casing perforations over 24 ft covering five reservoirs at an average of 74 bopd.

L 140 is the fourteenth well drilled in the Chauk oil field and twenty-first in Myanmar in 2014.

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