Interra Resources : Myanmar Drilling Update - CHK 1222 Completed as an Oil Producer

INTERRA RESOURCES LIMITED

Company Registration No. 197300166Z

SGX ANNOUNCEMENT

Trading Code: 5GI

24 September 2021

MYANMAR DRILLING UPDATE:

CHAUK DEVELOPMENT WELL CHK 1222

COMPLETED AS OIL PRODUCER

Interra Resources Limited ("Interra") wishes to inform shareholders that its joint venture entity, Goldpetrol Joint Operating Company Inc. ("Goldpetrol"), has completed development well CHK 1222 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 1222 was drilled using hired ZJ 750 rig. Interra's share of the cost of drilling was funded from existing funds on hand.

CHK 1222 was drilled in the east flank of the northern portion of the Lanywa block producing area. CHK 1222 was drilled to a total measured depth of 2,950 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 shallow oil reservoirs that produce in this block.

CHK 1222 is the fourth well to be completed as an oil producer in Myanmar in 2021, and has been completed through casing perforations over 113 feet covering ten reservoirs for 44 barrels of oil per day.

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 petroleum exploration and production (E&P). Our E&P activities include petroleum production, field development and exploration. We are positioning ourselves to become a leading regional independent producer of petroleum.

Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel [phone] Fax [phone] www.interraresources.com