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.

This will deifnately cause it to cross $0.085 soon. Do remain vest and good luck.

•Expected improvement in consumer demand from TCL’s dominant market – China

•Cautiously optimistic outlook for TCL’s key consumer markets

•Stronger returns expected from the investments in Australian Real Estate – strong pipeline of investments in 2013

•Expansion of product lines & brands and distributorship networks.

My Angmo broker reecommaned buy with TP: $0.095 potential 50% upside. Do monitor and good luck.