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2014-04-07

Interoil Exploration & Production ASA : 12 month license contract in Peru and bank loan in Colombia secured

Interoil Peru SA has secured a 12 month license contract for blocks III and IV
with Perupetro. The contract's commercial terms are identical to the original
license contracts.

It is expected that a bid round for a 30 year license contract for Blocks III
and IV will be completed before expiry of the contract on 5 April 2015.
Interoil Peru SA will participate in the bid round. Perupetro will select the
new operator based on proposed investment program and royalty rate.

Interoil Colombia Exploration&Production Inc (BVI) has entered into a secured
bank loan facility with Banco Colpatia, for USD 15 million. The loan carries
an interest rate of LIBOR + 4,5% with maturity in February 2016.

For more information please contact:

Erik Sandøy Thomas J. Fjell

CFO CEO

Mob: +47 488 94 426 Mob: +47 958 15 300

E-mail:esandoy@interoil.no E-mail:tfjell@interoil.no

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Interoil Exploration&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 Peru, and Colombia. Interoil currently employs approximately 275
people and is headquartered in Oslo.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Interoil Exploration&Production ASA via Globenewswire

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