Interra Resources’ jointly controlled company Goldpetrol Joint Operating Co has started drilling development well CHK 1188 in the Chauk oil field in Myanmar. Interra has a 60% stake 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 1188 is drilled using Goldpetrol’s LTO 350 rig, costs are anticipated to be relatively low. Interra’s share of the cost of drilling is funded from existing funds on hand,” said Interra.
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