Retco starts infill drilling program in Tanjung Miring Timur

Singaporean firm Interra Resources Limited said Monday that its subsidiary PT Retco Prima Energi had commenced infill well drilling in the Tanjung Miring Timur oil field, South Sumatra.

Interra estimated that the results of drilling program should be available in approximately one month's time.

?If the results of the infill well drilling are favourable, Retco will conduct further drillings in the same area to increase its current production,? Interra said in a statement to Singapore Stock Exchange.

Retco operates the Tanjung Miring Timur oil field under a technical agreement contract with state-owned oil and gas firm PT Pertamina. The field is currently producing around 750 barrels of oil per day.

Interra earlier said that Retco had proposed a three-well drilling program during the second half of 2004.

Interra has 70 percent interest in Retco through its wholly-owned subsidiary, PT Central Infinity Utama. (robert)