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2016-02-16

Interoil Exploration & Production ASA: Q4 2015

Interoil recorded an EBITDAx (EBITDA adjusted for exploration expenses) from
continuing operations of USD 1,0 million in Q4 2015 before one off provisions
(Q4 2014: USD 1,4 million) on operating revenues of USD 3,6 million (Q4 2014:
USD 8,1 million). The decrease in revenues and EBITDAx primarily results from
the fall in the oil price. Provisions of USD 3,5 million relating to the
Trayectoria receivable and additional depreciation of USD 1,1 million,
resulted in a comprehensive net loss of USD 4,2 million for the quarter (Q4
2014: profit USD 4,5 million). It should be noted that the Q4 2014 profit
benefited from the recognition of net exchange gains on the revaluation of
borrowings of USD 6,9 million compared to net exchange losses of USD 0,5
million in Q4 2015.

Detailed information on the operational and financial activities of Interoil
is presented in Interoil's Q4 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 70 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.

Annual Statement of Reserves 2015
http://hugin.info/137537/R/1986284/728699.pdf
Q4 2015
http://hugin.info/137537/R/1986284/728748.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#1986284

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