INTERRA RESOURCES LIMITED

Company Registration No. 197300166Z

SGX ANNOUNCEMENT

Counter Name: Interra Res (Code: 5GI)

20 January 2020

MYANMAR DRILLING UPDATE:

DRILLING COMMENCEMENT OF

CHAUK DEVELOPMENT WELL CHK 1220

Interra Resources Limited (the "Company" or "Interra") wishes to inform shareholders that its joint venture entity, Goldpetrol Joint Operating Company Inc. ("Goldpetrol"), has commenced drilling development well CHK 1220 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 1220 is being drilled using Goldpetrol's ZJ 450 rig, thus drilling costs are expected to be relatively low. Interra's share of the cost of drilling is funded from existing funds on hand.

CHK 1220 will be drilled to a total measured depth of 3,000 feet in the Chauk South Central Fault block as a vertical infill development well to three current oil producers. It is expected to penetrate the multiple oil reservoirs that produce in this fault block with the primary objective of accelerating production from these.

CHK 1220 is the first well to commence drilling in Myanmar in 2020 and results of the drilling and completion are stimated to be available within 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 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 (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com

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Interra Resources Limited published this content on 20 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2020 09:58:03 UTC