The average production in March 2012, compared to the average production in February 2012, was:
|Production*||March 2012||February 2012|
*The production is average daily oil production (bopd) before royalty
**InterOil's working interest in Colombia varies from 70% to 90% dependent on license
Heavy rain during February and March has caused the Chira River in Block III to rise and flood part of the South Mirador Field. InterOil has decided to shut down parts of the production in Block III. The production is expected to be back to normal soon.
The lower production in Colombia can be traced back to that the Toqui-Toqui and the Puli-B fields were returned to Ecopetrol March 1st 2012, when the licenses expired. InterOil will continue to operate these fields for a service fee of USD 12 per barrel.
Oil has been sold at average sales price of USD 122.15 in Peru and USD 104 in Colombia per barrel during March.
For more information please contact:
InterOil Exploration & Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange - with focus on Latin-America. The company is operator of several production and exploration assets in Peru, Colombia and Ghana. InterOil currently employs approximately 250 people and is headquartered in Oslo.