Thai Government Approved Interra's Farm-in/out Agreement with JSX

The Thai Government has granted approval for the previously announced farmin-farmout agreement between Interra and JSX for a 50% working interest in the petroleum concession blocks L17/48, L3/48 and L9/48.

Interra has also incorporated a subsidiary company in Thailand, namely, Interra Resources (Thailand) Limited. IRT was incorporated to hold the company’s interests in the Petroleum Blocks.

IRT and JSXT will jointly operate the Petroleum Blocks and Joint Operating Agreements for each of the Petroleum Blocks will be finalized shortly. After the JOAs have been executed, the Agreement will be unconditional.

Substantial work has been ongoing with respect to refining the work plans for the Petroleum Blocks. Further detailed announcements will be made in due course regarding the work plans and the progress made with respect to their implementation.