The average production in July 2012, compared to the average production in June 2012, was:
|Production*||July 2012||June 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
The two deepest intervals in the Gatcheta Formation in the Mizar exploration well in the Altair license in Colombia have been tested. The well produces today 100 bopd from the second deepest interval with a water saturation of 85%. Interoil will test the C7 reservoir as soon as the rain season ends most likely in a couple of months. The C7 was the main target for the Mizar-1 well.
Interoil Peru completed the third well at the San Luis field in Block III in July. The well discovered oil, but the initial test result was disappointing. Interoil is evaluating different options to improve the output.
Oil has been sold at average sales price of USD 100.10 in Peru and USD 101.16 in Colombia per barrel during July.
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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. The company is operator of several production and exploration assets in Peru, Colombia and Ghana. InterOil currently employs approximately 280 people and is headquartered in Oslo.