Drilling of the well was completed according to plan. Three potential producing zones were perforated. The lower tested gas but was closed with a cement plug in order to maintain gas cap pressure for nearby oil wells producing from this zone. Confirming the existence of oil or gas cap in this zone was an objective of the well. The other two zones have produced no commercial hydrocarbons to date. Testing is still being undertaken on both zones with this process likely to continue for another month. The Company will announce should production be achieved from this well.
As part of a program to drill shallow infill wells in Myanmar, Goldpetrol has commenced drilling another shallow infill well at its Chauk oil field in Myanmar. This is an inclined well and the well number is CGP-08. The final deviation angle is expected to be 25 degrees. The primary objective of the well is to produce from the UL3000 and UL3700 sands. This infill drilling should take approximately 30 days for completion using Goldpetrol's Cooper LTO rig. The total depth is 3,800 feet. The drilling operation is being conducted jointly by Goldpetrol's staff and Myanma Oil and Gas Enterprise's staff seconded to Goldpetrol. The Company estimates that the results of this infill drilling should be available in approximately 2 months' time. The Company will announce the results of the drilling operation as soon as they may be ascertained.
Interra Resources Limited is a Singapore-listed company specializing in the upstream petroleum business. Our core focus is petroleum production, field development and low-risk exploration. We are positioning ourselves to be a leading regional producer of oil and gas.
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