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Vikingo-x1 Operational Update

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Oslo, 6 August 2018

Last July 5th Vikingo's flow production stopped and after a series of operational tests conducted by Interoil's field personnel it was determined that the problem is caused in a failure in the downhole pump, an important device within Vikingo's production string. In order to recover Vikingo's production flow rates a workover operation is required to replace the broken downhole pump.
Profiting the presence of a workover rig, Vikingo's workover program shall be aimed at both establishing production from the C5 layer and installing a selective production string to independently test and produce the lower C7 layer.
Prior to mobilizing the workover rig, Interoil approached one local native community, named "Duya", with the intention to have their approval to mobilize the workover rig through their property.  Since the decision of the workover operation made, Interoil has been conducting daily meetings with the Duya's native community explaining the importance of such workover operation in Vikingo with the view of securing the Duya's approval.  In addition, and regardless of any progress with the Duya, Interoil has already started the required access approval for the use of an alternative private path with other independent landowners to the Duya.  This process is expected to take eight to nine weeks, providing Interoil the corresponding right of ways approval to mobilize the work over rig by the beginning of October of this year.

Leandro Carbone, CEO, commented: We are surprised with the delay we are experiencing with the Duya's approval despite the good and permanent relationship we have established with them since the Vikingo-x1 discovery.  Despite Duya's current situation, the alternative path to secure access to the Vikingo-x1 site is close to materialize considering Interoil has been working on the related right of ways since early this year.  We are confident that Vikingo's production will resume in due course.

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 70 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.

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