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Production update July 2008

Production*                          July 2008                June 2008
Peru                                     3'576                       3'080
Colombia                             1'662                       1'612
Total                                    5'238                       4'692
End of month production 5'710 bopd.
*The production is average daily production (bopd) and is working interest before royalty
The increased production in Peru is a result of the two new wells in the promising Mirador area. In Colombia the fracturing campaign is ongoing. As production wells are shut in during the fracturing procedure, the full effect on the result will not be seen before the fracturing campaign is completed by early September.
Oil has been sold at average sales price of USD 131.08 in Peru and USD 117.55 in Colombia per barrel during July, to be compared with the average sales price in second quarter of 2008 of USD 117.92 in Peru and USD 115.86 in Colombia.
For more information please contact:
Fredrik von Zernichow
Investor Relation Manager
Tel: +47 6751 8661
Mob: +47 9927 3843
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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