Interra Resources to sell stake in unit for US$13.5m

Singapore

INTERRA Resources has conditionally agreed to sell a 90 per cent stake in its wholly owned subsidiary, Goldwater LS Pte Ltd (GLS), to PT Mitra Investindo TBK (MITI) for US$13.5 million.

GLS owns IBN Oil Holdico Ltd (IBN), which is the sole operator of the Linda Sele field in the province of West Papua, Indonesia. It has a tenure of 20 years, expiring in October 2018.