KeyFacts Energy: Interra Resources Myanmar country profile

Interra Resources reports that its joint venture entity, Goldpetrol, has commenced drilling development well CHK 1226 in the Chauk oil field in Myanmar.

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. CHK 1226 is being drilled using Goldpetrol’s ZJ 450 rig, thus drilling costs are expected to be relatively low. Interra’s share of the cost of drilling is funded from existing funds on hand.

CHK 1226 will be drilled in the Chauk Moolla fault block as an east offset to well CHK 1132 which was reactivated as an oil producer in January 2021 through new casing perforations in three undrained reservoirs. The proposed total measured depth is 3,800 feet. The primary objective is to accelerate oil production from these reservoirs and possibly delineate additional offset well locations.

CHK 1226 is the fourth 2021 budgeted development well drilled by Goldpetrol in Myanmar. The results of the drilling and completion are estimated to be available in approximately six weeks. The Company will announce the results of the drilling operation as soon as they may be ascertained as well as updates reflecting critical or unexpected events during drilling.