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 September 2011 published on Tuesday.

Tanjung Miring Timur TAC (Interra 70%)
The processing of the approximately 40 square kilometres of 3D seismic data over the TMT field has begun, following 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. Currently, Interra is awaiting the final approval from Pertamina for the assignment agreement to purchase operator?s remaining 30% interest.

In Q3 2011, gross production was 26,762 barrels of oil, an increase of 13% as compared to the previous quarter. Production costs and development costs (including 3D seismic costs) for the quarter were US$934,375 and US$30,211 respectively.

Linda Sele TAC (Interra 100%)
Field improvements are underway with the replacement or repair of surface and down-hole equipment at the LS fields. The near-term goal of these activities is to increase oil production from existing wells. Reservoir engineering and geological studies are also ongoing, as well as a preliminary design and surface reconnaissance towards tendering for a possible 3D seismic survey over the two fields.

In Q3 2011, gross production was 12,004 barrels of oil, a decrease of 5% as compared to the previous quarter. During the quarter, there were two upliftings of approximately 21,000 barrels of oil which equated to a billing of US$1,332,079.

Production costs for the quarter amounted to US$652,626 (end of excerpt)