Interra reports Q4 oil output from S. Sumatra TAC

The following is an edited excerpt from Singapore-listed firm Interra Resources Limited on Indonesian production activity, taken from quarterly report ended 31 Dec 2010 published on Friday.

Tanjung Miring Timur TAC, Onshore South Sumatra (Interra 70%)

The approximately 40 square kilometres of 3D seismic survey over the field commenced in Q4 2010, with the acquisition phase expected to be completed in Q1 2011. Following this, the seismic data will be processed and interpreted with respect to yielding a better understanding of the subsurface structural geometry and reservoir characteristics. It is anticipated that new drill site locations will be delineated with a much higher degree of confidence.

As previously reported, new drillings have been postponed until after the completion of the 3D seismic data acquisition and interpretation. The declining oil production continues to be under technical review by both Interra and the operator.

In Q4 2010, gross production was 25,758 barrels of oil, a decrease of 7% compared to the previous quarter. Production costs and development costs for the period were US$800,937 and US$457,315 respectively. (end of excerpt)