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Continued Success in Peru and Colombia

InterOil is continuing our enhanced oil recovery (fracturing) campaign in Colombia, and has just finished the second well; TC 19, with another successful result. Initial production from the well is now 430 bopd, more than doubling of production before the "fracturing".  
 
- The enhanced oil recovery program continues in Colombia with the successful completion of our second well.  Production from this well is now 430 bopd, up from 200 bopd, and we have already started our third well, says Nils Trulsvik, CEO.
 
Our new exploration well in Peru has reached the reservoir level at 2740 ft. with good indications of hydrocarbons and high pressure. Drilling will continue after logging and casing, down to approx. 3950ft. We shall have the final production level at the end of June. InterOil will drill minimum of two wells in this area of Block III, continues Trulsvik.
 
The two shallow wells drilled in Block IV in Peru in the beginning of June, produce a total of 300 bopd, also higher than projected.
 
For more information please contact:
Fredrik von Zernichow
Investor Relation Manager
Tel: +47 6751 8661
Mob: +47 9927 3843
Fax: +47 6751 8660
E-mail: f.zernichow@interoil.no
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InterOil Exploration & Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange - with focus on Latin-America and West-Africa. The company is operator of several production and exploration assets in Peru and Colombia, and is an active license partner in Angola and Ghana. InterOil currently employs approximately 200 people and is headquartered in Oslo.
 

Interoil Main Office:
c/o Advokatfirmaet Schjødt AS
Ruseløkkveien 14
NO-0251 Oslo, Norway

Phone: (+47) 67 51 86 50
Fax: (+47) 67 51 86 60
info@interoil.no

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