INTERRA RESOURCES LIMITED Singapore Company Registration No. 197300166Z Australian Business No. 37 129 575 275 SGX & ASX ANNOUNCEMENT

SGX Code: Interra Res (5GI), ASX Code: ITR

28 November 2011

USE OF PROCEEDS FROM THE PLACEMENT OF 38,500,000 PLACEMENT SHARES COMPLETED IN APRIL 2011

Unless otherwise defined, all terms used or referred to in this announcement have the meanings as assigned to them in the announcements made by the Company on

8 March 2011, 31 March 2011 and 4 April 2011 in relation to the Placement (the

"Announcements").

Further to the Announcements, the Board of Directors wishes to provide an update on the utilisation of the net proceeds from the Placement amounting to S$4,741,174
(the "Net Proceeds") after deducting expenses of S$109,826 as follows:

Purpose

Amount Utilised

(S$)

Acquisition of 30% participating interest in TAC TMT as announced on 22 June 2011 and 25 November 2011

- Initial payment of US$590,000 upon signing of agreement

729,399

- Final payment of US$6,310,000 upon completion, of which US$3,057,849 is funded by the Net Proceeds (the balance is funded by existing funds on hand)

4,011,775

Total

4,741,174

To date, 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, listed on the SGX Catalist and the ASX, is a Singapore - incorporated company engaged in the business of petroleum exploration and production ("E&P"). Our E&P activities include petroleum production, field
Interra Resources Limited 1 Grange Road #05-04 Orchard Building Singapore 239693 Tel (65) 6732 1711 Fax (65) 6738 1170 www.interraresources.com

Use of Proceeds from the Placement of 38,500,000 Placement Shares Completed in April 2011

Page 2 of 2 development and exploration through strategic alliances and partnerships. We are
positioning ourselves to becoming a leading regional independent producer of oil and
gas.

For corporate enquiries, please contact: Marcel Tjia

Chief Executive Officer
mtjia@interraresources.com

For technical enquiries, please contact: Frank Hollinger

Chief Technical Officer
frank@interraresources.com

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor ("Sponsor"), Collins Stewart Pte. Limited, for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). Collins Stewart Pte. Limited has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Alex Tan, Managing Director, Corporate Finance, Collins Stewart Pte. Limited, at 77 Robinson Road #21-02 Singapore 068896, telephone (65)

6854 6160.

distribué par

Ce noodl a été diffusé par Interra Resources Limited et initialement mise en ligne sur le site http://www.interraresources.com. La version originale est disponible ici.

Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2011-11-28 11:25:45 AM et restera accessible depuis ce lien permanent.

Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.

Documents associés
Use of Proceeds from the Placement Completed in April 2011