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Interoil Exploration & Production ASA :Mårten Rød steps down as Chairman of Interoil E&P ASA

(4 December 2012, Lysaker) Mårten Rød has informed the Board of Directors of Interoil Exploration & Production ASA (Interoil) that he will step down as Chairman of the company following charges put against him by The Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim). The charges are not related to Interoil.

- Økokrim has decided to raise charges against me regarding payments made to related parties in my former role as Chairman in a shipping company and relates back to the period 2008 to 2010. The case has absolutely no connections to Interoil.  However, I have decided to step down as Chairman until my name is cleared, in order not to harm the company and its shareholders, and will do so on December 20th.  The charges as far as I am concerned, are absolutely, utterly and totally unfounded, says Mårten Rød.

Reference is made to the notice of 30 November 2012 regarding the Extraordinary Shareholders Meeting In Interoil 20 December.  The recommendation from the nomination committee is expected to be made available 2 weeks before the shareholders meeting.

For further information, please contact:

Fredrik Von Zernichow

Investor Relations Manager 

Tel. +47 6751 8661

F +47 6751 8660

M +47 9927 3843

F.ZERNICHOW@INTEROIL.NO

WWW.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. 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.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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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