Interra Resources Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of USD 8,717,000 compared to USD 8,242,000 a year ago, mainly due to higher sales of shareable production from all operations and higher weighted average transacted oil prices. Profit before income tax was USD 2,005,000 compared to USD 2,095,000 a year ago. Profit attributable to equity holders of the company was USD 1,364,000 or 0.303 cents per fully diluted share compared to USD 1,494,000 or 0.506 cents per basic and fully diluted share a year ago. The decrease was mainly due to the following: Higher cost of production from USD 4.81 million to USD 5.61 million in first quarter 2013. Higher income tax expenses of USD 0.64 million in first quarter 2013 as compared to USD 0.60 million in first quarter 2012 due to higher taxable income. Net cash provided by operating activities was USD 900,000 compared to USD 1,634,000 a year ago. Additions to oil and gas properties were USD 6,729,000 compared to USD 618,000 a year ago. Additions to exploration and evaluation assets were USD 14,000 compared to USD 76,000 a year ago. Earnings before divestment gain, interest income, exchange difference, finance cost, tax, depreciation, amortization, allowance and impairment (EBITDA) for the quarter was USD 3,822,000 compared to USD 3,978,000 a year ago. Operating earnings before divestment gain, interest income, exchange difference, finance cost and tax (EBIT) was USD 2,385,000 compared to USD 2,901,000 a year ago. The Group's shareable production increased by 12%, 11,075 barrels from 93,426 barrels in first quarter 2012 to 104,501 barrels in first quarter 2013. The increase was mainly due to higher contributions from Myanmar and TMT TAC operations. The Group's sales of shareable oil from all operations were increased by 19% (16,890 barrels) to 107,652 barrels in first quarter 2013. Group's average shareable production per day was 1,161 barrels compared to 1,027 barrels a year ago.

Interra Resources Limited informed current status of Linda Sele Development Wells LDA G5TW and SLE S2 at the Linda Sele (LS) fields onshore West Papua, Indonesia. LDA G5TW successfully reached total depth (TD) at 1,010 metres, and has been undergoing production optimisation tests since. The well is currently producing approximately 21 barrels of oil per day while awaiting further work in an effort to increase production. SLE S2 has reached TD at 736 metres and testing of prospective reservoirs will commence shortly. GLS has 100% working interest in LS and both wells were drilled using an externally contracted rig.

Interra Resources Ltd. reports that its jointly controlled entity, Goldpetrol Joint Operating Company Inc. has completed drilling infill development well CHK 1168 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 CHK 1168 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 1168 was drilled to a total depth of 3,800 feet as a structurally high offset to several shut-in wells which produced oil from several sandstone reservoirs, and is expected to produce oil from the undrained portion of this fault block. CHK 1168 was completed through casing perforations over a total of 67 feet covering eight sandstone reservoirs. CHK 1168 is the fourth well to be completed as an oil producer in the Chauk field and the sixth in the Myanmar asset in 2013. This is a continuation of Interra's aggressive work programme of employing own two rigs in drilling shallow to intermediate depth development wells.