Interra?s Goldwater TMT commences drilling development well TMT-56
Saturday, August 24 2013 - 03:30 AM WIB
SGX-listed Interra Resources Limited said that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (GTMT), has commenced drilling development well TMT-56 at the Tanjung Miring Timur (TMT) field in South Sumatra, Indonesia.
GTMT has 100 percent operating interest in the Technical Assistance Contract of the TMT field and the cost of drilling will be funded from existing funds on hand.
TMT-56 is proposed to be drilled to a total depth of 1,250 metres and is the first of four additional development wells to be drilled back-to-back using an externally contracted rig, the company said in a statement obtained Friday.
?This new drilling program is a continuation of the initial, successful four-well drilling programme which began in October 2012, and will continue to test new geologic and reservoir concepts with respect to the several sandstone reservoirs of the Talang Akar Formation as well as the limestone reservoirs of the Batu Raja Formation derived from the 2012 3D seismic survey,? the statement said.
Interra estimates that the results of the drilling should be available in approximately eight weeks. The company will announce the results as soon as they may be ascertained as well as updates reflecting critical or unexpected events during drilling.
Editing by Reiner Simanjuntak