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Interoil Exploration & Production ASA : Colombia drilling program update and appointment of new General Manager in Peru

The results of our first Monserrate well (MNS-4) show an average daily production of 155 bopd and 176 boepd including associated gas. The well was drilled to 3740 ft with a 15.5 degree deviation. 207 ft. of net sands were selected for perforation. GOR was 710 scf/stb of 26.5 API oil gravity with 0.3% BSW.

The well is producing in accordance with our expectations.

Phase 1 of our drilling program is continuing according to plan and the second well (MNS-6) has been completed and is currently undergoing testing.

In Peru, Mr. Steven J. Benedetti has been appointed as General Manager of Interoil Peru. Mr. Benedetti is a US citizen with more than 35 years of international upstream oil and gas experience which includes Colombia, Argentina, Venezuela and Chile.

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For more information please contact:

Thomas J. Fjell            
CEO                           
Mob: +47 958 15 300

Erik Sandøy
CFO
Mob: +47 488 94 426
    
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 and Colombia. Interoil 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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