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MYANMAR DRILLING UPDATE:
Interra Resources Limited (the "
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. Due to a drilling depth that exceeds Goldpetrol?s own two drilling rig capacities, YNG 3257 was drilled using an externally contracted Sinopec Service XJ 750 rig. Several deeper and more difficult wells are scheduled to be drilled in the Myanmar fields employing this rig. Interra?s share of the cost of drilling was funded from existing funds on hand.
YNG 3257 was drilled to a total depth of 5,352 feet in the producing Nyaung Do fault block located in southern Yenangyaung field. The primary objective of YNG 3257 was to establish oil production in this area of the fault block from reservoirs as determined from electric logs analysis in offset YNG 3142, which was drilled in December 1979 but was shut-in before production was established. Following four days of production testing, YNG 3257 has been completed at an average 70 barrels of oil per day through casing perforations over 38 feet in two reservoirs.
YNG 3257 marks the sixteenth well to be completed as oil producer in Myanmar in 2013.
By Order of the Board of Directors of
INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer Company" or " Interra" ) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (" Goldpetrol" ), has completed infill development well YNG 3257 in the Yenangyaung oil field in Myanmar as an oil producer.
YENANGYAUNG DEVELOPMENT WELL YNG 3257
COMPLETED AS AN OIL PRODUCER
Daiwa has an unrated report on sector. House recently visited Interra Resources for an insight to its oil and gas business. The co has five upstream assets, of which four produce oil: two in Indonesia, and two in Myanmar. Interra appeared very happy with its recent US$78.5m acquisition, as the Benakat oil field lies adjacent to its own Tanjung Miring Timur (TMT) field and produces from the same geologic structures and formations as its own TMT field. Thus, the acquisition represents a good strategic fit for its asset portfolio, in the company?s view. Interra stated that post the Benakat acquisition, it remains open to other acquisitions.
The co stated that given the headwinds faced by the Indonesian economy, opportunistic M& A targets could surface. Regarding Myanmar, it said that in the recent round of tenders, there were too many companies competing for acreage and thus the country is a low priority on the M& A front at present. The stock is currently trading at a 2013E P/E of 29.1x based on Bloomberg consensus EPS forecast. Based on the company?s 2P reserves of 23.3mmboe as at end-2012, Interra currently trades at an EV/boe of US$7.07/boe, compared to its Asia- Pacific upstream peers? average of US$19.20/boe. Buy...?
Out oredi!
Lucky I managed to make small small money!!!
Cheers !!!
NoMoney ( Date: 17-Sep-2013 07:19) Posted:
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hmm...out of a sudden shoot up ....something is brewing
Interra Resources has hired consultants to provide an independent assessment of the reserves and resources of the recently acquired Benakat Barat oil block in Indonesia, and to prepare an independent reserve report.
still will go up may b Max 53 to 54. that time I buy 495 let go 52
GorgeousOng ( Date: 17-Sep-2013 07:27) Posted:
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I am crying now !!!!
😪 😥 😪 😥 😖
NoMoney ( Date: 17-Sep-2013 07:19) Posted:
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u enter too high liao. that time I enter at 495 stuck for 3 months.. I cleared at 475 cause I bought at 445 recently
GorgeousOng ( Date: 17-Sep-2013 06:51) Posted:
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This time I jialat lia!!!!
First time play this counter! After read this thread...it looks like not so juices....I hope I will bring luck to this counter!!!! LOL
🙈 🙉 🙊 🙊 🙉 🙈
Cheers!
Huat Arh!!!
Usually interra will chiong before news, then will be down after news is out... So I will sell if there is a gap up and will not chase it later... Just my view, I might be wrong, I'm always wrong.... Zzzzzz
This dinosaur I've been keeping for long time. Bot at 4.75, after up and down still there. Keep under the pillow for dividend every year.
novice_trader ( Date: 16-Sep-2013 23:13) Posted:
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Same same! Need To take a break after closing my counters this week!
novice_trader ( Date: 16-Sep-2013 23:13) Posted:
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Hope it doesn't sink tomorrow... I'm vested but tired from all the losses recently... Huat ah!!!
Thanks, overlooked that!! Anybody got any thoughts for interra this week? Some sifus say it may CHiong soon!
francisd ( Date: 16-Sep-2013 22:03) Posted:
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Yeah. Only the well no. is different.
Cheers.
meohmy ( Date: 16-Sep-2013 21:29) Posted:
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This is not new?
Octavia ( Date: 16-Sep-2013 21:27) Posted:
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MYANMAR DRILLING UPDATE: YENANGYAUNG DEVELOPMENT WELL YNG 3256 COMPLETED AS AN OIL PRODUCER
Interra Resources Limited (the ?Company? or ?Interra?) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (?Goldpetrol?), has completed infill development well YNG 3256 in the Yenangyaung oil field in Myanmar as an oil producer.
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. Since the well was drilled using Goldpetrol?s own Cooper LTO 350 rig, costs were comparatively low. Interra?s share of the cost of drilling was funded from existing funds on hand.
YNG 3256 was drilled to a total depth of 2,991 feet as an infill development well between recently completed oil wells YNG 3251 and YNG 3254, with the primary objective of accelerating production from the oil bearing reservoirs in this fault block. YNG 3256 has been completed at a stable 17 barrels of oil per day through casing perforations over 39 feet in four reservoirs. Several shallower potential oil reservoirs will be tested at a later date.
YNG 3256 marks the fifteenth well to be completed as oil producer in Myanmar in 2013.
By Order of the Board of Directors of INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer
http://infopub.sgx.com/FileOpen/Myan...& FileID=256409
Interra Resources Limited (the ?Company? or ?Interra?) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (?Goldpetrol?), has completed infill development well YNG 3256 in the Yenangyaung oil field in Myanmar as an oil producer.
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. Since the well was drilled using Goldpetrol?s own Cooper LTO 350 rig, costs were comparatively low. Interra?s share of the cost of drilling was funded from existing funds on hand.
YNG 3256 was drilled to a total depth of 2,991 feet as an infill development well between recently completed oil wells YNG 3251 and YNG 3254, with the primary objective of accelerating production from the oil bearing reservoirs in this fault block. YNG 3256 has been completed at a stable 17 barrels of oil per day through casing perforations over 39 feet in four reservoirs. Several shallower potential oil reservoirs will be tested at a later date.
YNG 3256 marks the fifteenth well to be completed as oil producer in Myanmar in 2013.
By Order of the Board of Directors of INTERRA RESOURCES LIMITED
Marcel Tjia
Chief Executive Officer
http://infopub.sgx.com/FileOpen/Myan...& FileID=256409
no money liao all dump at cosco
GorgeousOng ( Date: 16-Sep-2013 10:23) Posted:
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Enter fri .49....
Are you still with this babe?
Cheers!!!
NoMoney ( Date: 13-Sep-2013 11:02) Posted:
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nice break. saw it trying to break 485 manytimes