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2015-05-28

Interoil Exploration & Production ASA : Q1 2015

Interoil produced net income from continuing operations of USD 12,5 million
(Q1 2014: USD 1,9 million) and EBITDAx (EBITDA adjusted for exploration
expenses) of USD 4,8 million (Q1 2014: USD 7 million) on operating revenues
of USD 4.7 million (Q1 2014: USD 11.4 million). The decrease in revenues
primarily results from the fall in the oil price and production, in addition
to increased inventory during the quarter. A one off item relating to the
Trayectoria settlement of USD 4 million positively affected the EBITDAx. The
net income increased due to remission of debt related to the restructuring
executed in January of net USD 12,5 million.

The equity position of the Group has significantly improved from negative USD
4.9 million as at 31 December 2014 to positive USD 15.1 million as at 31
March 2015.

Detailed information on the operational and financial activities of Interoil
is presented in Interoil's Q1 2015 Report enclosed.

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

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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 production and exploration assets
in Colombia. Interoil currently employs approximately 95 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.

Q1 2015 Report
http://hugin.info/137537/R/1924424/690287.pdf

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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

HUG#1924424

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