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1541-1560 of 1924
Interra Resources to sell stake in unit for US$13.5m
Interra Resources has conditionally agreed to sell a 90% stake in its wholly owned subsidiary, Goldwater LS Pte Ltd (GLS), to PT Mitra Investindo TBK (MITI) for US$13.5 million.
GLS owns IBN Oil Holdico Ltd (IBN), which is the sole operator of the Linda Sele field in the province of West Papua, Indonesia. It has a tenure of 20 years, expiring in October 2018. GLS and IBN have a combined net asset value of US$17,127,270 as at Dec 31, 2013, of which US$15,414,543 is considered the interest being sold. (BT)
...last:$0.385...
nett profit 7 mil + impairment 6.24 mil for CDT12.
so in theory net profit = 13.24 mil compare to yr2012 of 3.03 mil
so in theory, net profit jump 4 times ???
share price is now 0.4 but I be on " safe side" and say it is 0.15
if 0.15 x 4 = 0.6 , but based on today price 0.4 x 4 = 1.6 but i be on " safe side" and cut off 25% to 1.2 when CDT12 is operational
and what about TMT 59 by the first week of April. how many barrels rolling in.
Will easily shoot to 0.6 - 0.64 range and creep up to 1.2 minimum by Jan 2015.
if you can get between .355 and .395 now, good luck if you are patient.
just my thoughts .... trade at your own risk...
pcscorpio ( Date: 25-Feb-2014 10:44) Posted:
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I believe this is just the first part of the report.... the 2nd part states that it would still be a profitable FY13 ...so shall wait for the release of the financial reports before making my next move.. haha...cheers....
dingbat ( Date: 04-Feb-2014 13:53) Posted:
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might drop further
Further work on Chauk deep well CDT 12 in Myanmar will be suspended so that the wellbore can be re-entered at a later date to perform further tests on these reservoirs. Interra Resources Limited's share of the total cost with respect to the drilling of CDT 12 until the suspension of the well is expected to be approximately US$6,200,000, and this amount will be impaired and taken to the statement of financial position for the financial year ended 31 December 2013...
FOR any chief executive, a tripling in revenue and net profit in four years would be cause for celebration.
Not so for Marcel Tjia, who sees it as just a " decent job" .
The former private equity partner joined onshore oil and gas producer Interra Resources in mid-2009, when the firm was facing one of its most challenging times since listing in 2003.
Outstanding trade receivables, coupled with a lack of results after a drilling programme in Thailand, meant that the firm had to write off millions of dollars in impairments. The firm also had to scale back work programmes and implement cost-cutting measures as oil prices fell 35 per cent and reduced its revenue
Vafirish ( Date: 10-Jan-2014 20:30) Posted:
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Any latest news from this coy?
vested
Octavia ( Date: 17-Dec-2013 11:19) Posted:
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...mainly on technical...
based on 2-yr charts... lowest: ~$0.075 highest: $0.595 (Feb '13)
share price x 7.9 over 14 mths ... a bit steep ... may have room for further correction...
Interra Resources Limited (formerly: Van der Horst Limited)
But the PE is really high..?
| P/E (ttm): | 30.36 |
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HIGHER sales of shareable production continued to boost earnings at oil and gas firm Interra Resources in the third quarter.
Net profit rose nearly five times to US$4.99 million (S$6.2 million), from US$1.09 million a year ago.
Revenue increased 79 per cent to US$14.03 million, as sales of shareable production rose to 181,611 barrels from 97,570 barrels last year.
This was despite lower transacted oil prices of US$105.57 per barrel, compared with US$110.31 per barrel last year.
CHK 1173 was drilled to a total depth of 2,530 feet as an infill development well to producing oil wells CHK 1166 and CHK 1171, with the primary objective of accelerating production from reservoirs that produce in this fault block.
Following five days of production testing, CHK 1173 has been completed through casing perforations over eight reservoirs totalling 55 feet at 184 barrels of oil per day. CHK 1173 is the fifth well to be completed in this fault block in 2013 and as a group has had a significant positive impact on the Chauk field oil production. Several prospective shallower reservoirs will be tested later in this well or by shallow offset well.
CHK 1173 marks the nineteenth well to be completed as an oil producer in Myanmar in 2013.
YNG 3260 was drilled to a total depth of 5,317 feet in the producing Nyaung Do fault block located in southern Yenangyaung field. The primary objective of YNG 3260 was to produce oil which has not been produced by offset wells in this area of the Nyaung Do fault block. YNG 3260 has been completed at 5 barrels of oil per day through casing perforations over 20 feet in two reservoirs. The production will be monitored pending possible additional reservoir stimulation in the future. YNG 3260 marks the twentieth well to be completed as oil producer in Myanmar in 2013.
Interra Resources Limited (the " Company" or " Interra" ) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (" Goldpetrol" ), has completed development well YNG 3258 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 LTO 350 rig, costs were comparatively low. Interra?s share of the cost of drilling was funded from existing funds on hand.
YNG 3258 was drilled as a southeast offset to oil producing well YNG 3260 in the central portion of Yenangyaung field to a depth of 2,594 feet. The primary objective is to accelerate production from the oil reservoirs that produce from the several wells in this fault block. Following production testing, YNG 3258 has been completed at 60 barrels of oil per day through casing perforations over 40 feet covering six reservoirs.
YNG 3258 marks the eighteenth well to be completed as oil producer in Myanmar in 2013.
By Order of the Board of Directors of
INTERRA RESOURCES LIMITED
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 development well CHK 1173 in the Chauk oil field in Myanmar.
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. CHK 1173 is being drilled using Goldpetrol?s LTO 350 rig, thus drilling costs are expected to be relatively low. Interra?s share of the cost of drilling will be funded from existing funds on hand.
CHK 1173 will be drilled to a targeted depth of 2,600 feet as an infill development well to CHK 1166 and CHK 1171, both of which were completed as oil producers this year. The primary objective is to accelerate production from the oil reservoirs that produce from these two wells and other wells in this 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 of the drilling operation 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
muifan ( Date: 01-Oct-2013 10:16) Posted:
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