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2016-02-10

Interoil Exploration & Production ASA: Production update 2016

Average production in January 2016, compared to average production in December
2015, was:

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| IOX licences* January 2016 December 2015 |
| Boe/d** Bopd*** Boe/d** Bopd*** |
| Colombia 1 234 757 1 251 771 |
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| Operator licences January 2016 December 2015 |
| Boe/d** Bopd*** Boe/d** Bopd*** |
| Colombia 510 510 505 505 |
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*Working interest average daily production before royalty
**Barrels of oil including associated gas
***Barrels of oil

Oil has been sold at average net sales price: USD 24,7/bbl in January.

Gas has been sold at average net sales price: USD 20,5/bbl in January.

Operations&Maintenance Contract sales price: USD 17/bbl in January.

Please direct any further questions to:ir@interoil.no.

***************************

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. Interoil currently employs approximately 70 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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