Interra Resources Limited wishes to inform shareholders that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (GTMT) has achieved a milestone for both the Company and TMT field following production testing.

Following casing perforation in one of the prospective sandstone reservoirs, very high flow rates have been observed during production testing over the last five days. The Company has been running tests on TMT-53 and it has been closely monitoring the performance of the well during this period. The new well achieved a controlled flow rate of 1,422 barrels of oil over the last twenty-four hours. The Company will be conducting futher tests with the aim of maintaining optimum production levels from the new well. The Company will continue to monitor the new well closely and further information will be announced when these become available.

TMT-53 is one of four new wells drilled since the Company completed the acquisition and interpretation of 3D seismic data. TMT-53 was drilled in one of numerous quality drillable prospects that have been identified by the Company.

Tags: Interra Resources Limited