Interra starts drilling TMT-52 well
Monday, February 18 2013 - 10:57 AM WIB
SGX-listed Interra Resources Limited said that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (GTMT), has commenced drilling of development well TMT-52 in the Tanjung Miring Timur (TMT) field in South Sumatra.
GTMT has 100 percent working interest in the Technical Assistance Contract of the TMT field and TMT-52 is being drilled using an externally contracted rig, the company said in a press statement on Monday.
TMT-52 is the fourth well to have commenced drilling since GTMT resumed its drilling operations in the field following 3D seismic data acquisition and interpretation.
The well is being drilled to an approximate depth of 1,250 meters in the southeast fringe of the field and is aimed at producing oil from the Batu Raja and Talang Akar formations.
The objective is to test new geologic and reservoir concepts derived from the recently acquired 3D seismic survey with respect to the several sandstone reservoirs of the Talang Akar as well as the Batu Raja limestone.
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 Benget Besalicto Tnb.