Interra Resources : Use of Proceeds from the Placement completed on 9 June 2020

INTERRA RESOURCES LIMITED

Company Registration No. 197300166Z

SGX ANNOUNCEMENT

Trading Code: 5GI

20 November 2020

USE OF PROCEEDS FROM THE PLACEMENT COMPLETED ON 9 JUNE 2020

Unless otherwise defined, capitalised terms used herein shall bear the same meaning ascribed to them in the announcements dated 20 April 2020, 1 June 2020 and 9 June 2020 in relation to the Placement (the "Announcements").

Further to the announcements dated 23 July 2020, 20 August 2020, 22 September 2020 and 26 October 2020 in relation to the use of proceeds from the Placement, the Board of Directors wishes to provide an update on the utilisation of the Net Proceeds of S$2,807,800 (US$2,020,352) after deducting expenses incurred in connection with the Placement as follows:

Purpose	Amount utilised
	(US$)
Payment for work activities relating to the work programme of the Chauk	180,152
and Yenangyaung fields in Myanmar for the year 2020
Total	180,152

The above utilisation is in line with the intended uses of the Net Proceeds stated in the Announcements. Subsequent to the aforementioned, the Net Proceeds have been fully utilised.

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