Interra Resources Limited Seeks Waiver and Extension for Reporting FY2025 Reserves and Resources

Key Points for Investors

• Application to SGX for Waiver and Extension: Interra Resources Limited has announced that it has applied to the Singapore Exchange Regulation (SGX RegCo) for a waiver from including a summary of reserves and resources as at the end of the financial year 2025 (FY2025) in its upcoming annual report (AR2025). The company is also seeking a two-month extension to separately publish this information via an announcement by 31 May 2026.
• Alternative Extension Sought: If SGX RegCo requires the reserves and resources summary to be included in the AR2025, Interra is requesting an extension to issue its AR2025 by 15 June 2026 and to hold its Annual General Meeting (AGM) by 30 June 2026.
• Underlying Reason – Change of Reserves Evaluation Firm: The waiver and extension application was triggered after the independent reserves evaluation firm originally engaged to prepare the qualified person’s report (QPR) withdrew on 20 March 2026, leaving insufficient time to appoint a replacement before the scheduled release of AR2025.
• Company’s Next Steps: Interra will update shareholders on the outcome of the application and make further announcements as needed.

Details and Implications for Shareholders

Interra Resources Limited, a Singapore-listed petroleum exploration and production company, has taken the unusual step of applying for a waiver from a key SGX Listing Manual requirement due to unforeseen circumstances involving its reserves reporting process.

Under SGX Rules, particularly Rule 1207(21) with Practice Note 6.3, issuers in the oil and gas sector must include a summary of their reserves and resources, based on an independent qualified person’s report, in their annual reports. This is an important disclosure for investors, as it provides insight into the company’s asset base and future revenue potential.

According to the company’s announcement, the independent reserves evaluation firm initially engaged to prepare this summary report notified Interra on 20 March 2026 that it would be unable to issue the report in time. Previously, the company believed the firm would be able to deliver on schedule, but this last-minute withdrawal has left Interra with insufficient time to find a replacement and prepare the required disclosures.

Given the time constraints (with less than three weeks to the scheduled AR2025 release), Interra believes it is not practicable to include the reserves and resources summary in the annual report as required. As such, the company has submitted the following requests to SGX RegCo:

• Waiver of the requirement to include the reserves and resources summary in AR2025.
• Extension of two months to publish the summary by separate announcement, no later than 31 May 2026.
• Alternative extension: If SGX insists on inclusion in AR2025, Interra requests to delay the AR2025 release to 15 June 2026 and the AGM to 30 June 2026, subject to ACRA’s approval for necessary statutory extensions under the Companies Act.

These developments are potentially price sensitive and of critical importance to shareholders:

• Timely and transparent reserves disclosure is central to investor confidence in oil & gas companies, as reserves underpin future production and cash flows.
• Any delay or uncertainty in reserves reporting may lead to increased investor caution, particularly if the underlying reason is due to the withdrawal of an independent evaluator.
• Regulatory risk: If SGX RegCo does not grant the requested waiver or extensions, Interra may be in breach of its listing obligations, which could have reputational and compliance ramifications.
• Operational update: Interra is continuing to diversify into renewable energy, collaborating on floating solar farms in Indonesia, and holding options to increase stakes in silica sand concessions, as well as maintaining a 12.24% stake in Morella Corporation Limited, an ASX-listed critical minerals company.

The company assures investors that its application does not contravene any laws or regulations and that further updates will be provided as the situation develops.

Potential Share Price Impact

Investor Takeaway: The request for a waiver and extensions related to the reserves and resources summary is an unusual event that could potentially affect investor sentiment and share price, depending on the outcome of the SGX RegCo’s decision and the company’s ability to engage a new qualified evaluator. Transparency on reserves and resources is a key consideration for valuation in the energy sector, and any perceived delay or uncertainty may impact share price volatility in the short term.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult professional advisors before making investment decisions. The information herein is based on the company’s public disclosures as of the date indicated and may be subject to change.

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