Interra Resources Limited says that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (Goldpetrol), has completed drilling infill development well CHK 1165 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. Since CHK 1165 was drilled using Goldpetrol’s Cooper LTO 350 rig, costs were comparatively low. Interra’s share of the cost of drilling was funded from existing funds on hand.

CHK 1165 was drilled in the south-central portion of the field to a total depth of 2,560 feet with the objective of producing oil from reservoirs that have not been drained by existing wells. Following electric wire line logging and analysis, CHK 1165 was completed through casing perforation totalling 20 feet over 4 sandstone reservoirs.

Tags: Interra Resources Limited