Interra updates Indonesia ops

The following is an edited excerpt from Singapore-listed firm Interra Resources Limited on Indonesian production activity, taken from quarterly report ended 30 June 2011 published on Thursday.

Indonesia: Tanjung Miring Timur TAC (Interra 70%)
During Q2 2011, a decision was made on the seismic processing centre that will be contracted to process the approx. 40 sq-km of 3D seismic acquired in Q1 2011 over the field. Processing will begin soon and after which the data will 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.

In Q2 2011, gross production was 23,619 barrels of oil, a decrease of 7% as compared to the previous quarter. Production costs and development costs (including 3D seismic costs) for the period were US$845,033 and US$748,412 respectively.

Indonesia: Linda Sele TAC (Interra 100%)
In Q2 2011, gross production was 12,581 barrels of oil. Due to the ongoing repair at the refinery centre in Sorong, the uplifting of oil was done via an oil tanker. As a result, uplifting has been irregular. During the period, there was only one uplifting of approximately 7,000 barrels of oil which corresponded to US$417,621 of billing. This situation is being closely monitored.

Production costs for the period amounted to US$529,278 (end of excerpt)