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INTERRA RESOURCES LIMITED

ASX: ITR

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Interra Resources Limited, listed on the SGX Catalist and the ASX, is a Singapore-incorporated company engaged in the business of petroleum exploration and production (“E&P”). Our E&P activities include petroleum production, field development and exploration.

Since our inception, we have grown both organically by developing our existing assets and through disciplined acquisitions by seeking attractive acquisition targets across Southeast Asia and Australia.

Today, we have established oil and gas interests and operations in various parts of Southeast Asia and Australia. Our portfolio of production, development and exploration assets comprises five contract areas in Australia, Indonesia and Myanmar.

Australia: PEP 167

In southeast Australia, we hold a 50% participating interest in an exploration permit located in the onshore Otway Basin, namely the Petroleum Exploration Permit (“PEP”) 167. The PEP commenced on 2 July 2007 with an initial exploration work program of 5 years. The operator of the permit area is our joint venture partner, Bass Strait Oil Company Ltd. PEP 167 covers an area of 833 square kilometres and is located near Portland in western Victoria.

Indonesia: Tanjung Miring Timur TAC

Onshore South Sumatra, we own a 70% participting interest in the Tanjung Miring Timur ("TMT") Technical Assistance Contract ("TAC"). The TAC with PT Pertamina EP commenced on 17 December 1996 for a term of 20 years. The operator of the oil field is PT Retco Prima Energy. TMT covers an area of approximately 61 square kilometres and is located around 30 kilometres southeast of Prabumulih and about 120 kilometres southwest of Palembang. During 2010 gross production was 118,402 barrels of oil.

Myanmar: Chauk and Yenangyaung IPRCs

In central Myanmar , we hold 60% of the rights and interests to two of the largest onshore oil fields in Chauk and Yenangyaung under two Improved Petroleum Recovery Contracts ("IPRCs"). The IPRCs with the Myanma Oil and Gas Enterprise commenced on 4 October 1996 for a term of 20 years and 6 months. We manage the operatorship of the two fields jointly with our joint venture partner through Goldpetrol Joint Operating Company Inc. (“Goldpetrol”). The Myanmar concessions cover a total area of approximately 1,800 square kilometres and are located along the Ayeyarwady River , approximately 580 kilometres north of Yangon . During 2010, the combined gross production for both fields was 788,877 barrels of oil.

Mine For

oil, gas

Location of operation(s)

Victoria, Myanmar, Indonesia

Australian Basins

Otway

Address

1 Grange Road #05-04 Orchard Building
, , SINGAPORE

Phone

(65) 6732 1711

Email

Website


Last Updated

29/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.