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Interra Resources Ltd. ( (SG:5GI) ) has provided an announcement.
Interra Resources Limited has continued its internal restructuring by transferring its 60% participating interests in two improved petroleum recovery contracts for the Yenangyaung and Chauk onshore fields in Myanmar, its interests in a related joint operating agreement, and its 60% equity stake in Goldpetrol Joint Operating Company Inc from Goldwater Company Limited to Goldwater Indonesia Inc. The transactions, executed through a deed of assignment, a farmout deed and a nominal share transfer, consolidate these key Myanmar upstream assets under Goldwater Indonesia Inc while remaining entirely within the group, and are not expected to have any material impact on the company’s overall financial position given they occur between wholly owned subsidiaries.
More about Interra Resources Ltd.
Interra Resources Limited is an upstream oil and gas company focused on petroleum exploration and production, with key assets including improved petroleum recovery contracts for the Yenangyaung and Chauk onshore fields in Myanmar. The Group holds its interests through a network of wholly owned subsidiaries, including Goldwater Company Limited and Goldwater Indonesia Inc, and operates in partnership with other petroleum companies via joint operating agreements and a joint operating company structure.
Technical Sentiment Signal: Hold
Current Market Cap: S$23.6M
Find detailed analytics on 5GI stock on TipRanks’ Stock Analysis page.