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My guess is that they have made a major oil discovery in their oilfields.
Keeping figures crossed for the announcement.
Cheers.
Buying interest into this counter......
Volume picking up!!!ALERT ALERT!!! Buy now buy now!! Vested @ 48 cents. Sell @ 52 centss
already see some buying today..
francisd ( Date: 08-May-2013 10:01) Posted:
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They have not found out oil yet only drilling in 4 weeks time they said will let you know guys.
In 4 weeks a lot can happen. No rush for me. :)
Cheers.
what price are we looking at.. start buying?
vw2796 ( Date: 07-May-2013 18:04) Posted:
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INTERRA RESOURCES LIMITED
UEN 197300166Z ARBN 129 575 275
SGX ANNOUNCEMENT
SGX Code: Interra Res (5GI)
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com
7 May 2013
MYANMAR DRILLING UPDATE:
DRILLING COMMENCEMENT OF
YENANGYAUNG DEVELOPMENT WELL YNG 3254
Interra Resources Limited (the “Company” or “Interra”) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (“Goldpetrol”), has commenced drilling infill development well YNG 3254 in the Yenangyaung oil field in Myanmar.
Interra has a 60% interest in the Improved Petroleum Recovery Contract of the Yenangyaung field and also owns 60% of Goldpetrol which is the operator of the field. YNG 3254 is being drilled using Goldpetrol’s LTO 350 rig and thus drilling costs are expected to be comparatively low. Interra’s share of the cost of drilling will be funded from existing funds on hand.
YNG 3254 is drilled as an offset development well to YNG 3250 which was completed as an oil producer in January 2013. YNG 3254 will be drilled to a depth of approximately 3,000 feet with primary objective to establish oil production from the three reservoirs which produce in YNG 3250. Additional objectives will be shallower reservoirs that produce in four other surrounding wells in the same fault block.
Interra estimates that the results of the drilling and completion should be available in approximately six 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.
By Order of the Board of Directors of
INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer
any experts are following up on this Interra Res, is already in oversold position, does it mean a good opportunity buy (value buy)..
medivh ( Date: 07-Apr-2013 22:37) Posted:
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Reported yesterday that :PRODUCTION, DEVELOPMENT & EXPLORATION ACTIVITIES FOR THE QUARTER ENDED 31 MARCH 2013 (" Q1 2013" ): had increse by around 20% .
Do remain vest and Huat ah.
Calculated revenue should increased by S$20 million over for fy 2013. More oil well should be ready for oil production this year.
Do monitor and vest. Huat ah.
Should move higher today. Keep a look up for more good news.
Good luck to all who vested. Huar ah.
The confirmation of oil production of between 900 to 1100 bopd over the pass 2 week had confirm that it's oil well tmt 53 is in good production of oil.
Four additional wells for 2013 drilling s is expect to generate more oil and profit.
Do vest and monitor. Should cross $0.80 in the short to mid term.
Do vest and good luck.
INTERRA RESOURCES LIMITED
UEN 197300166Z ARBN 129 575 275
SGX ANNOUNCEMENT
SGX Code: Interra Res (5GI)
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com
24 April 2013
INDONESIA PRODUCTION TESTING UPDATE:
DEVELOPMENT WELL TMT-53
As stated in the announcement of 10 April 2013 with respect to production tests of TMT-53 at the Tanjung Miring Timur (“TMT”) field in South Sumatra, Interra Resources Limited (the “Company” or “Interra”) wishes to inform shareholders that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (“GTMT”) has achieved a stabilised flow rate following production testing. GTMT has 100% working interest in the Technical Assistance Contract of the TMT field and TMT-53 was drilled using an externally contracted rig.
Following unrestricted initial flow rates in excess of 1,400 barrels of oil per day (bopd), the Company has endeavoured to optimise the flow rates whereby formation flowing pressure would be maintained and the chance of any potential water break-through be minimised.
Following the implementation of the optimisation tests, TMT-53 has consistently produced at controlled flow rates of between 900 and 1,100 bopd over the past fourteen days. TMT-53 marks a significant milestone in the development of TMT as it currently has the best initial production rates based on existing production tests. At this stabilised production rate, TMT-53 remains the best producing well and more than doubles the overall production at TMT.
TMT-53 is one of four new wells drilled since completion of the 3D seismic data acquisition and interpretation. The Company has identified numerous quality drillable prospects following the interpretation of the 3D seismic data and the new discovery made by TMT-53 was one such prospect. Given the substantial flow rates from TMT-53, the Company has commenced additional 3D seismic studies to determine the extent of the newly discovered reservoir.
Four additional wells for 2013 drilling have been approved by Pertamina, and site construction is currently underway.
By Order of the Board of Directors of
INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer
Latest stock take from US Department of Energy showed that Crude Oil inventories fell by 1.2 million barrels, way below estimates that anticipated a gain of 1.2 million barrels instead. This would usually mean higher Oil prices as lower inventories is the end result of lower supply , higher demand, or a combination of both. However, price did not rally significantly, but instead the slide continued, with price managing to hit a new 2013 low during early Asian session.
With oil price going higher, IR get benefit and IR share should go higher.
If confirm.only 38bpd...i dont think.enough the cover the cost...plus all taxes
INTERRA Res has announced that it had completed drilling infill development well CHK 1168 in the Chauk oil field in Myanmar as an oil producer.
Interra has a 60% interest in the Improved Petroleum Recovery Contract of the Chauk field and also owns 60% of Goldpetrol which is the operator of the field. Since CHK 1168 was drilled using Goldpetrol’s ZJ 450 rig, costs were comparatively low. Interra’s share of the cost of drilling was funded from existing funds on hand.
CHK 1168 was drilled to a total depth of 3,800 feet as a structurally high offset to several shut-in wells which produced oil from several sandstone reservoirs, and is expected to produce oil from the undrained portion of this fault block. CHK 1168 was completed through casing perforations over a total of 67 feet covering eight sandstone reservoirs. Following testing by pump, production has stabilised at 38 barrels of oil per day.
The above good new should cause it share price to move higer. Keep a lookout.
I am still accumulating. Believe my anymo broker- He say it should cross $0.60 soon with TP of $1.00.
Do vest and good luck.
Huat ah.
Yes, I am in
tankuku ( Date: 11-Apr-2013 05:39) Posted:
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It had the potentail to crosss $1.00 in months to come. SGX state that it is one of the cheapest oil producing stock that is worth investing with good return.
Do monitor and good luck. Haut ah to all.
INTERRA MAKES SIGNIFICANT NEW DISCOVERY IN TMT
Interra Resources Limited (the “Company” or “Interra”) wishes to inform shareholders that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (“GTMT”) has achieved a milestone for both the Company and TMT field following production testing.
The Company has been running tests on TMT-53 and it has been closely monitoring the performance of the well during this period. The new well achieved a controlled flow rate of 1,422 barrels of oil over the last twenty-four hours.
Above was just announced by company hours ago. Daily production of 1,400 barrels roughly equal to $46MM USD in a yea, assuming crude oil at $90/barrel. This revenue contribution will be significant, given comapny's 2011 and 2012 whole year revenue was only at $24.8MM and $30.4MM respectively. Am I being too optimistic?