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Drilling update

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Interoil is pleased to announce the continuation of its 2017 drilling campaign. The drilling of the exploratory well Vikingo 1, located in LLA-47 block - Llanos Basin, started on April 30th in order to prove C7 Formation in a structural prospect. Vikingo 1 is a vertical well designed in two sections up to Paleozoic basement on 5,980 feet total depth. The C7 sandstones are expected at 4,960 feet according to geological prognosis in the upper top of the structure. At present, the first section to 800 feet has been already drilled, cased and cemented; next activity rig up BOP, directional tool and prepare BHA to start drilling second 8 1Ž2" section from 800 feet up to 5,980 feet.

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 the operator of several production and exploration assets in Colombia. Interoil currently employs approximately 71 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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