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Interra Completes Drilling at YNG 3260 Well in Yenangyaung Oil Field

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Interra Resources Limited reported that its jointly controlled entity, Goldpetrol Joint Operating Company Inc., has completed development well YNG 3260 in the Yenangyaung oil field in Myanmar as an oil producer.

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 3260 is the second well drilled using a hired Sinopec Service XJ 750 rig due to a drilling depth exceeding Goldpetrol’s own two drilling rig capacities. Interra’s share of the cost of drilling was funded from existing funds on hand.

YNG 3260 was drilled to a total depth of 5,317 feet in the producing Nyaung Do fault block located in southern Yenangyaung field. The primary objective of YNG 3260 was to produce oil which has not been produced by offset wells in this area of the Nyaung Do fault block. YNG 3260 has been completed at 5 barrels of oil per day through casing perforations over 20 feet in two reservoirs. The production will be monitored pending possible additional reservoir stimulation in the future.

YNG 3260 marks the twentieth well to be completed as oil producer in Myanmar in 2013.

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