MYANMAR DRILLING UPDATE:

CHAUK DEVELOPMENT WELL CHK 1171

COMPLETED AS AN OIL PRODUCER

 

Interra Resources Limited (the " Company" or " Interra" ) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (" Goldpetrol" ), has completed drilling development well CHK 1171 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. Since the well was drilled using Goldpetrol?s ZJ 450 rig, costs were comparatively low. Interra?s share of the cost of drilling was funded from existing funds on hand.

CHK 1171 was drilled to a total depth of 3,200 feet as an infill development well to producing oil wells CHK 1166 and CHK 1170, with the primary objective of accelerating production from reservoirs that produce in this fault block.

Following four days of production testing, CHK 1171 has been completed through casing perforations over eleven reservoirs at 125 barrels of oil per day. CHK 1171 is the fourth well to be completed in this fault block in 2013. Several prospective shallower reservoirs will be tested later in this well or by a shallow offset well.

CHK 1171 marks the fourteenth well to be completed as an oil producer in Myanmar in 2013.

By Order of the Board of Directors of

INTERRA RESOURCES LIMITED

Marcel Tjia

Chief Executive Officer

INDONESIA DRILLING UPDATE:

DRILLING COMMENCEMENT OF DEVELOPMENT WELL TMT-56

http://infopub.sgx.com/FileOpen/Indonesia_Drilling_Commencement-TMT-56.ashx?App=Announcement& FileID=253617

 

MYANMAR DRILLING UPDATE:

Interra Resources Limited (the "

Interra has a 60% interest in the Improved Petroleum Recovery Contract of the Yenangyaung field and also owns 60% of Goldpetrol which is the operator of the field. Due to a drilling depth that exceeds Goldpetrol’s own two drilling rig capacities, YNG 3257 is being drilled using an externally contracted Sinopec Service XJ 750 rig. Several other, deeper and more difficult wells are scheduled to be drilled in the Myanmar fields employing this rig. Interra’s share of the cost of drilling will be funded from existing funds on hand.

YNG 3257 is drilled in the producing Nyaung Do fault block located in southern Yenangyaung field as an infill development well offsetting YNG 3142, which was drilled in December 1979 but shut-in before completion. Electric log analysis clearly shows hydrocarbons in the primary 3700FT reservoir and oil was noted during drilling. YNG 3257 is drilled with the primary objective of establishing oil production in this area of the Nyaung Do fault block. There are at least four additional reservoirs that have oil production potential in this area.

Interra estimates that the results of the drilling and completion should be available in approximately eight weeks. The Company will announce the results 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 Company" or " Interra" ) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (" Goldpetrol" ), has commenced drilling infill development well YNG 3257 in the Yenangyaung oil field in Myanmar.

DRILLING COMMENCEMENT OF

YENANGYAUNG DEVELOPMENT WELL YNG 3257

 

MYANMAR DRILLING UPDATE:

CHAUK DEVELOPMENT WELL CHK 1170 COMPLETED AS AN OIL PRODUCER

 

Interra Resources Limited (the " Company" or " Interra" ) wishes to inform shareholders that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. (" Goldpetrol" ), has completed drilling development well CHK 1170 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. Since the well was drilled using Goldpetrol’s ZJ 450 rig, costs were comparatively low. Interra’s share of the cost of drilling was funded from existing funds on hand.

CHK 1170 was drilled to a total depth of 3,370 feet as a south offset to CHK 1166 which was completed in March 2013. The primary objective of CHK 1170 is to accelerate production from the reservoirs of this fault block. Following five days of production testing, CHK 1170 has been completed through casing perforations over ten reservoirs totalling 69 feet at 45 barrels of oil per day.

CHK 1170 marks the seventh well to be completed as an oil producer in the Chauk oil field and the thirteenth in Myanmar in 2013.

By Order of the Board of Directors of

INTERRA RESOURCES LIMITED

Marcel Tjia

Chief Executive Officer

http://infopub.sgx.com/FileOpen/Myanmar_Drilling_Update-Chauk_Devt-Well_CHK_1170_Completed_as_an_Oil_Producer.ashx?App=Announcement& FileID=250249