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Interoil Exploration & Production ASA: Management changes

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Further to the letter to shareholders dated 18 May 2017, the Company can confirm that Nigel Duxbury has stepped down as General Manager and Pablo Arias has stepped down as CEO/CFO.

The Company is pleased to announce the appointment of new management.

Sandra Cancino has been appointed General Manager (Norwegian "daglig leder") subject to the appropriate residency exemption being approved by Norwegian authorities. Sandra is a professional in finance and international trade with a Masters in International Business. She has extensive knowledge and experience in multiple industries and sectors across international markets and has a proven track record in leading financial, creation, restructuring and reorganization of companies in challenging settings.

Leandro Carbone has been appointed Chief Executive Officer and brings over 20 years of experience in leading oil and gas projects. He started as a field engineer working for TOTAL for ten years in Europe, North Sea and Latin America.  In recent years Leandro has been a Latin American Executive Director for many private and public companies. He has extensive experience across Latin America and has been involved in a number of significant discoveries and transactions across Argentina, Peru, Bolivia and Colombia. Leandro is a Petroleum Engineer from Instituto Tecnologico de Buenos Aires.

Both appointments are effective as of today.

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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