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Registered share capital increase and reverse split

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Oslo, 3 July 2015; Reference is made to the stock exchange announcement made by Interoil Exploration and Production ASA (the "Company") on 26 June 2015 containing minutes from the Company's annual general meeting, resolving a reverse split of shares in the Company and a related share capital increase of five new shares in the Company.

The share capital increase and the amendments to the Company's articles of association in connection with the reverse split have today been registered in the Norwegian Register of Business Enterprises.

Following the issuance of new shares (but prior to the effectuation of the reverse split), the Company has a share capital of NOK 32,345,157.50 divided into 646,903,150 shares each with a nominal value of NOK 0.05.

The Company's shares will be listed ex reverse split and with new nominal value as of Monday, 6 July 2015. The reverse split is made in the ratio 10:1, thus 10 existing shares give 1 new share after the reverse split. Following completion of the reverse split the Company therefore has a share capital of NOK 32,345,157.50 divided into 64,690,315 shares, each with a nominal value of NOK 0.50.

Please direct any further questions to:

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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 Colombia. Interoil currently employs approximately 95 people and is headquartered in Oslo.

This information is subject to 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

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