Interoil Peru SA has secured a 12 month license contract for blocks III and IV with Perupetro. The contract's commercial terms are identical to the original license contracts.
It is expected that a bid round for a 30 year license contract for Blocks III and IV will be completed before expiry of the contract on 5 April 2015. Interoil Peru SA will participate in the bid round. Perupetro will select the new operator based on proposed investment program and royalty rate.
Interoil Colombia Exploration & Production Inc (BVI) has entered into a secured bank loan facility with Banco Colpatia, for USD 15 million. The loan carries an interest rate of LIBOR + 4,5% with maturity in February 2016.
For more information please contact:
Erik Sandøy Thomas J. Fjell
Mob: +47 488 94 426 Mob: +47 958 15 300
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 currently employs approximately 275 people and is headquartered in Oslo.