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Production update June 2008

Production*                June 2008                  May 2008
Peru                              3'080                          2'710
Colombia                       1'612                          1'619
Total                              4'692                          4'329
*The production is average daily production (bopd) and is working interest before royalty
The increased production in Peru is a result of the new well 13041D in the promising Mirador area. This well was set on production 18th June. In Colombia the fracturing campaign is ongoing. As production wells are shut in during the fracturing procedure, the full effect on the results will not be seen before the fracturing  campaign is completed by late August - early September.
Oil has been sold at average record sales price of USD 128.37 in Peru and USD 125.34 in Colombia per barrel during June, to be compared with the average sales price in May of USD 119.67 in Peru and USD 117.18 in Colombia.
For more information please contact:
Wilhelm Matheson
Tel: +47 6751 8652
Mob: +47 4147 8558
Fax: +47 6751 8660
 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

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