INTERRA RESOURCES LIMITED

UEN 197300166Z ARBN 129 575 275

SGX ANNOUNCEMENT

SGX Code: Interra Res (5GI)

24 January 2013

INDONESIA DRILLING UPDATE: DEVELOPMENT WELL TMT-54

As stated in the announcement of 2 January 2013 with respect to furnishing updates reflecting noteworthy events during the continued drilling of TMT-54 at the Tanjung Miring Timur ("TMT") field in South Sumatra, Indonesia, Interra Resources Limited (the "Company" or "Interra") wishes to inform shareholders that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. ("GTMT") has successfully reached total depth at 1,210 metres. GTMT has 100% working interest in the Technical Assistance Contract of the TMT field and TMT-54 is drilled using an externally contracted rig.
Following wireline electric logging, the prospective reservoir formations will be evaluated to determine zones to be tested via casing perforation. The Company will announce these results 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 the SGX Mainboard, is engaged in the business of oil and gas exploration and production (E&P). Our E&P activities include oil and gas production, field development and exploration through strategic alliances and partnerships. We are positioning ourselves to become a leading regional independent producer of oil and gas.
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com

distributed by