Interra Resources Limited informed shareholders that its joint venture entity, Goldpetrol Joint Operating Company Inc., has completed development well CHK 1233 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. CHK 1233 was drilled using hired ZJ 750 rig, and Interra's share of the cost of drilling was funded from existing funds on hand.

CHK 1233 was drilled in the Lanywa block oil producing area of northern Chauk field as an infill development well to several current producers. The well was drilled to a total measured depth of 3,360 feet in a continuation of the successful development programme of directional drilling under the Ayeyarwaddy River with the primary objective of accelerating production from the multiple oil reservoirs that produce in this block. CHK 1233 is the fourth well to be completed as an oil producer by Goldpetrol in Myanmar in 2022 and following production testing, has been completed through casing perforations over 77 feet covering twelve reservoirs for 24 barrels of oil per day.