Interra Resources Limited says that its joint venture entity, Goldpetrol Joint Operating Company Inc. (Goldpetrol), has completed drilling development well YNG 3270 in the Yenangyaung oil field in Myanmar and the well has been temporarily shut-in (TSI) pending further action with respect to reservoir stimulation.

Interra has a 60 percent interest in the Improved Petroleum Recovery Contract of the Yenangyaung field and also owns 60 percent of Goldpetrol which is the operator of the field. YNG 3270 was drilled using Goldpetrol’s ZJ 450 rig, thus drilling costs were relatively low. Interra’s share of the cost of drilling was funded from existing funds on hand.

Tags: Interra Resources Limited