Interra Resources Limited wishes to inform shareholders that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (GTMT) has successfully completed the well as an oil producer.

Three of the lower reservoirs in the Talang Akar formation are currently producing following casing perforation and the Company is pleased to announce that production has reached an average rate of 200 barrels of oil per day (bopd).

TMT-54 is the second well to be completed as an oil producer in the current drilling campaign following TMT-55 as announced on 29 January 2013. TMT-55 is currently producing approximately 65 bopd while awaiting the installation of additional pump capacity to boost production.

The current production of the new wells at TMT-54 and TMT-55 has effectively doubled the production of TMT as a whole to almost 500 bopd. The Company is aggressively expanding its drilling programme at TMT so as to maximise production and work on two other new wells are on-going.

Concurrently, TMT-53 has reached total depth as announced on 6 February 2013 and drilling is expected to commence soon at TMT-52.

Tags: Interra Resources Limited