Interra Resources is an investment holding company. Through its wholly owned subsidiary and its indirect jointly controlled entity, Co. is engaged in exploration and operation of oil fields for the production of crude petroleum. Co.'s subsidiary owns the rights to exploit hydrocarbons in two onshore oil fields; the Yenangyaung and Chauk fields, covering a total area of approximately 1,800 sq. km. located along the Ayeyarwady River, approx. 360 miles to the north of Yangon, Central Myanmar. As of Dec. 31 2003, Co. had a total of 78,297 million barrels of oil reserves consisting of 9,977 million barrels proved; 3,513 million barrels probable; and 64,807 million barrels possible.
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