Interra Resources Limited says that its jointly controlled entity, Goldpetrol Joint Operating Company Inc.(Goldpetrol), has commenced drilling development well CHK 1195 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. CHK 1195 is being drilled using hired ZJ 750 rig to a total measured depth of 2,650 feet.
Though drilling has commenced in December, CHK 1195 is the first well to be drilled in the approved 2015 budget. Interra’s share of the cost of drilling is funded from existing funds on hand.