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Interra Resources kicks off drilling at Windermere-3 oil well in Victoria

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Interra Resources (ASX: ITR) has commenced drilling of the Windermere-3 well in the onshore Otway Basin of south east Australia, following a delay of several months due to wet surface conditions.

Windermere-3 is being drilled by the PEP 167 joint venture using an external drilling contractor as a direct offset to the 1987 Windermere-1 oil discovery in western Victoria.

The Windermere-1 well produced oil on open-hole test from the Heathfield Sandstone Member of the Eumeralla Formation but production was not established following completion of the well.

The well will be drilled to a depth is 1,815 metres or 50 metres below the primary Heathfield target. Interra expects the results of drilling to be available in December 2011.

PEP 167 is jointly held by Interra’s wholly owned subsidiary, Interra Resources (Australia) Pte. Ltd. (50%) and Bass Strait Oil Company Ltd (50% and operator of the permit).

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