Interra Resources Limited Announces Redesignation of Ng Soon Kai from Non-Executive Chairman to Executive Chairman

Interra Resources Limited is a Singapore-based investment holding company. The Company is engaged in the business of petroleum exploration and production (E&P). Its E&P activities include petroleum production, field development and exploration. Its portfolio of production, development and exploration assets comprises three petroleum contract areas in Indonesia and Myanmar. In central Myanmar, it holds approximately 60% participating interests in two of the onshore producing oil fields in Chauk and Yenangyaung under two Improved Petroleum Recovery Contracts (IPRCs) with the Myanma Oil and Gas Enterprise (MOGE). The Company manages the operatorship of the two fields jointly with a joint venture partner through Goldpetrol Joint Operating Company Inc. The Company holds approximately 72.75% participating interest in an exploration block, namely the Kuala Pambuang (KP) Production Sharing Contract (PSC), onshore Central Kalimantan.