Interra Ups CHK 1180 Well Production in Myanmar's Chauk Oil Field

Interra Resources Limited (the Company or Interra) reported Tuesday that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (Goldpetrol), has achieved a significant production gain at CHK 1180 in the Chauk oil field in Myanmar.

Interra has a 60 percent interest in the Improved Petroleum Recovery Contract of the Chauk field and also owns 60 percent of Goldpetrol which is the operator of the field. The additional work done on CHK 1180 was performed by Goldpetrol’s well servicing rig.

CHK 1180 was completed as an oil producer in February at 165 barrels of oil per day (bopd), but with natural decline, production had fallen to 75 bopd. Shallower zones were recognized as having considerable potential based on wireline logs and it was decided casing perforation of an additional 30 feet covering three reservoirs would be performed.

The new oil from these reservoirs has been commingled with the existing reservoirs, and following production testing, the combined rate has increased to 185 bopd – a gain of 110 bopd.

The CHK 1180 production gain marks the second well to realize a significant increase by employing additional perforations within the last two weeks. This is a continuation of an effort to maximize production in existing wells.

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