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New share capital registered

Oslo, 20 January 2020

Reference is made to previous stock exchange notices regarding Interoil Exploration and Production ASA's (the "Company") partial conversion of bonds to equity, through the issuance of 56,193,478 shares to Nordic Trustee AS on behalf of and for allocation to the bondholders.

The share capital increase related to the issuance of these shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new share capital is NOK 76,533,986, divided into 153,067,972 shares, each with a par value of NOK 0.50.

The new shares are registered on a separate ISIN and will not be listed and tradable on Oslo Børs until the Company publishes a listing prospectus in accordance with Chapter 7 of the Norwegian Securities Trading Act, currently expected to take place during March 2020.

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 and Argentina. Interoil currently employs approximately 50 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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