INTERRA RESOURCES LIMITED

Company Registration No. 197300166Z

SGX ANNOUNCEMENT

Counter Name: Interra Res (Code: 5GI)

21 February 2022

MYANMAR DRILLING UPDATE:

DRILLING COMMENCEMENT OF

CHAUK DEVELOPMENT WELL CHK 1231

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 1231 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 1231 is being drilled using hired ZJ 750 rig, and Interra's share of the cost of drilling is funded from existing funds on hand.

CHK 1231 is an offset development well to current oil producer CHK 1223 which was completed in the Lanywa fault block of northern Chauk field in October 2021. It will be directionally drilled to a proposed measured depth of 3,100 feet under the Ayeyarwaddy River from roughly the same east bank surface location as CHK 1223.

CHK 1231 is the third 2022 budgeted well and has the primary objective of accelerating production from the oil reservoirs that currently produce from this and other offset wells in the fault block.

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.

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 21 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2022 09:50:02 UTC.