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Interra spuds wells 1186 and 1187 in Myanmar block

09th May 2014

Interra Resources has announced that its jointly controlled entity, Goldpetrol Joint Operating Company (Goldpetrol), has commenced drilling development well CHK 1186 and CHK 1187 in the Chauk oil field in Myanmar

Interra spuds wells 1187 and 1187 in Myanmar block
CHK 1186 is being drilled using Goldpetrol’s ZJ 450 rig and CHK with the LTO 350

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. CHK 1186 is being drilled using Goldpetrol’s ZJ 450 rig and CHK with the LTO 350. Interra’s share of the cost of drilling is funded from existing funds on hand.

CHK 1186 is to be drilled to a targeted depth of 3,350 feet in the Chauk Northern fault block as a southern offset to producing well CHK 1170 with objective accelerating oil production from the reservoirs that produce in this fault block. CHK 1186 is a continuation of the aggressive drilling programme in this fault block which has seen the previous six new wells (all drilled in 2013) completed as oil producers at rates ranging from 50 to over 200 barrels of oil per day.

CHK 1187 is to be drilled to a targeted depth of 2,750 feet in the Chauk South Central fault block as an offset to wells CHK 1167 and CHK 1169, both of which were completed as oil producers in 2013. The primary objective will be to accelerate production from reservoirs that currently produce oil from these and other wells in the fault block.

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.

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