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In accordance with the resolution adopted by the General Meeting on 21 June 2013, 12,000,000 options for executive management and key personnel were issued in the board meeting 26 November 2014. The options had a pre-established subscription price of NOK 1.68. The options will be vested in three equal tranches over the next 24 months.
Primary insiders that this transaction concerns:
| Name | Options issued | Shares owned |
| Thomas J. Fjell | 6 750 000 | 300 000 |
| Erik Sandøy | 3 000 000 | 200 000 |
| Carlos Guerrero Moreno | 1 500 000 | 0 |
| Kari Kaugerud | 750 000 | 48 000 |
| Total numbers of options issued | 12 000 000 |
As a consequence of the awarded options CEO Thomas J. Fjell and CFO Erik Sandøy have reduced their base salary as part of the cost cutting program.
For more information please contact:
Thomas J. Fjell
CEO
Mob: +47 958 15 300
E-mail: tfjell@interoil.no
Erik Sandøy
CFO
Mob: +47 488 94 426
E-mail: esandoy@interoil.no
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Interoil Exploration and 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.