SINGAPORE (Yosefardi) – Interra Resources Ltd, controlled by Edwin Soeryadjaya, said its jointly controlled entity, Goldpetrol Joint Operating Company Inc., has commenced drilling development well CHK 1183 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 1183 is being drilled using hired ZJ 750 rig to a targetted depth of 3,700 feet. Interra’s share of the cost of drilling is funded from existing funds on hand.
CHK 1183 is drilled in the North-Central fault block of the Chauk field in an up-dip position with the primary objective of accelerating production from undrained portions of the oil reservoirs that have produced from wells in this 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.