Interra Resources Limited : Myanmar Drilling Update - Drilling Commencement ... - 4

INTERRA RESOURCES LIMITED

Company Registration No. 197300166Z

SGX ANNOUNCEMENT

SGX Code: Interra Res (5GI)

30 December 2013

MYANMAR DRILLING UPDATE: DRILLING COMMENCEMENT OF


CHAUK DEVELOPMENT WELL CHK 1177

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 1177 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

1177 is being drilled by using Goldpetrol's ZJ 450 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 1177 will be drilled to a targeted depth of 3,300 feet as an infill development well and a southern offset to CHK 1171, which was completed as an oil producer in August 2013 at an initial rate of 125 barrels of oil per day. The primary objective is to accelerate production from the oil reservoirs that produce from the wells in this fault block.

Following a very successful year with respect to Myanmar drilling results, CHK 1177 is the first well to be drilled as part of the 2014 Myanmar drilling campaign. Goldpetrol will continue to use three drilling rigs similtaneously in its drilling campaign.

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

Marcel Tjia

Chief Executive Officer

About Interra

Interra Resources Limited, a Singapore-incorporated company listed on SGX Mainboard, is engaged in the business of oil and gas exploration and production (EP). Our EP activities include oil and gas production, field development and exploration. We are positioning ourselves to become a leading regional independent

producer of oil and gas.
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com

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