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Interoil Exploration & Production ASA : 12 month license contract in Peru and bank loan in Colombia secured

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

CFO                                                 CEO

Mob: +47 488 94 426                         Mob: +47 958 15 300

E-mail: esandoy@interoil.no               E-mail: tfjell@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 currently employs approximately 275 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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