SGX Code: Interra Res (5GI)
30 January 2012
PRODUCTION, DEVELOPMENT & EXPLORATION ACTIVITIES FOR THE QUARTER ENDED 31 DECEMBER 2011 ("Q4 2011")Production Profile | Myanmar | Indonesia (TMT) | Indonesia (LS) | |||
Gross production Non-shareable production Shareable production Interra's share of shareable production | Q3 2011 (barrels) | Q4 2011 (barrels) | Q3 2011 (barrels) | Q4 2011 (barrels) | Q3 2011 (barrels) | Q4 2011 (barrels) |
Gross production Non-shareable production Shareable production Interra's share of shareable production | 200,839 (119,851) 80,988 48,593 | 205,692 (118,600) 87,092 52,255 | 26,762 (1,102) 25,660 17,962 | 23,799 (1,076) 22,723 18,673 | 12,004 (2,129) 9,875 9,875 | 12,607 (2,045) 10,562 10,562 |
Gross production refers to the total volume of oil produced in a specific field. "Non-shareable production" is the quantity of oil or gas which is deducted from gross production and allocated directly to the contract counterparty or host government. The amount of oil or gas remaining is "shareable production" which is then split between the contract counterparty or host government in accordance with the relevant contractual terms. The chart above represent Interra's share of shareable production prior to application of the contractual terms.
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com
Production, Development & Exploration Activities for the Quarter Ended 31 December 20112 of 4
Development and Production Activities
Myanmar: Chauk and Yenangyaung IPRCs (Interra 60%)
In Q4 2011, the combined gross production for both fields was
205,692 barrels of oil, a 2% increase over the preceding
quarter of 200,839 barrels of oil.
During the quarter, the operator, Goldpetrol Joint Operating
Company Inc. ("Goldpetrol") (Interra 60%), completed one
infill development well at the Yenangyaung field as oil
producer. This was the fourth well completed as oil producer
in the Yenangyaung field in
2011 and is a continuation of the emphasis on drilling
shallow to intermediate depth wells using Goldpetrol's
own rig to develop areas in producing reservoirs that are not
currently drained by existing wells.
At the Chauk field, technical and logistics planning was
continued by Goldpetrol in preparation for drilling a deep
subthrust well in 2012. The location is based on proprietary
2D seismic data acquired in
2010 and is planned to evaluate deep subthrust strata which
do not currently produce in the field. Throughout the
quarter, Goldpetrol continued to optimise the reactivation of
old wells in both fields that have been identified from
geologic and reservoir engineering studies. Ongoing
production enhancements and scheduled maintenance also
continued with the objective of maintaining (or increasing)
current production levels. All six development wells which
were drilled in 2011 were completed as oil producers.
3 of 4
Indonesia: Tanjung Miring Timur TAC (Interra 100%)
The processing of the approximately 40 square kilometres of
3D seismic data over the TMT field was progressing with
completion expected in early Q1 2012. The data will then be
interpreted with the objective of yielding a better
understanding of the subsurface structural geometry and
reservoir characteristics. As previously reported, new
drillings have been postponed until after the completion of
the 3D seismic data interpretation. Acquisition of the
remaining 30% interest in the TAC was completed during the
quarter and Interra has been assigned operatorship upon the
acquisition.
In Q4 2011, gross production was 23,799
barrels of oil, a decrease of 11% as compared to the previous
quarter.
Indonesia: Linda Sele TAC (Interra 100%)
An increase in production has been realised via the reopening
and workovers of existing wells. Field improvements continued
with the replacement or repair of surface and down-hole
equipment at the LS fields. Training of field personnel with
respect to "best practices" as well as the implementation of
structured monitoring and reporting procedures are underway.
Reservoir engineering and geological studies are ongoing to
improve the technical capabilities. The preliminary design
and the tendering process for a 3D seismic survey over the
two fields has commenced and is expected to be completed in
Q1 2012.
In Q4 2011, gross production was 12,607 barrels of oil, an
increase of 5% as compared to the previous quarter. During
the quarter, there were two upliftings of approximately
19,000 barrels of oil.
4 of 4
Exploration Activities
Australia: PEP 167 (Interra 50%)
During the quarter, the Windermere-3 well was drilled at PEP
167 to a total depth of
1,840 meters. It is a direct offset to the 1987 Windermere-1
exploration well which tested oil from the Heathfield
Sandstone Member of the Eumeralla Formation (the
"Heathfield").
The targeted formation was intersected by the borehole at
approximately 1,698 metres. Wireline electric logs were run
over the entire open borehole and formation testing was
completed over the primary targeted reservoir section.
Electric logs and formation evaluation testing indicated
overall tight reservoir rocks within the Heathfield and no
hydrocarbons were recovered. The well was plugged and
abandoned.
Other Matters
Interra continues to evaluate acreage opportunities
throughout the Southeast Asia region and Australia.
By Order of the Board of Directors of
INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer
About Interra
Interra Resources Limited, a Singapore-incorporated company
listed on the SGX Catalist, is engaged in the business of
petroleum exploration and production ("E&P"). Our E&P
operations include petroleum production, field development
and exploration through strategic alliances and partnerships.
We are positioning ourselves to
becoming a leading regional independent producer of oil and
gas.
For corporate enquiries, please contact:Marcel Tjia
Chief Executive Officer mtjia@interraresources.com
For technical enquiries, please contact:Frank Hollinger
Chief Technical Officer frank@interraresources.com
This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), Collins Stewart Pte. Limited, for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). Collins Stewart Pte. Limited has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr Alex Tan, Managing Director, Corporate Finance, Collins
Stewart Pte. Limited, at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160.
distribué par | Ce noodl a été diffusé par Interra Resources Limited et initialement mise en ligne sur le site http://www.interraresources.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-30 10:16:29 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Quarterly Activity Report 4Q2011 |