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Production report for December 2020

15 January 2021

Below please find average gross operated production in December 2020 and corresponding numbers for November 2020.

IOX operatedDecember 2020November 2020
 Boepd(1)Bopd (2)Boepd(1)Bopd (2)
Colombia1,0986661,114665
Argentina (3)2,7002992,812283
  1. Barrels of oil equivalents per day
  2. Barrels of oil per day
  3. Operated by Selva Maria Oil on behalf of IOX until local authorities approves operator’s licence.

Comments

Average daily production for December 2020 was about the same level as in the previous month in both Colombia and Argentina (see table).

One employee was infected by covid-19 at the Puli C field in Colombia. He is currently in quarantine at the site with only very mild symptoms.

As mentioned in the previous report, the company has started preparations for drilling of one commitment well on the Altair license. According to current licence terms this well should be drilled by April 2021.

Conversations are continuing with potential farm-in partners for the drilling programme in LLA-47, where the company is committed to drill nine more exploration wells by February 2022.

Since end of December, several wells at Puli C have been shut in due to mechanical failure of equipment, reducing daily output with around 90 barrels of oil (bopd) and 220 barrels of oil equivalents per day (boepd) of gas. Management is working on getting partners’ approval to engage and mobilize pulling rig and acquire downhole equipment plus spare parts to bring these wells back on stream as soon as possible.

Production from the Vikingo well in Colombia is continuing as expected and relatively unaffected by community protests in the aftermath of a minor oil spill reported in October 2020. Clean-up was completed in November, but topsoil replacement has been somewhat delayed due to a prolonged rain season.

Interoil will provide further updates with respect to production performance at the latest in the January 2021 production report.

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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 and license holder 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
info@interoil.no

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