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Richard Chandler Corporation Announces Acquisition of Shares of InterOil Corporation


Richard Chandler Corporation Announces Acquisition of Shares of InterOil Corporation

SINGAPORE, May 17, 2012 /CNW Telbec/ - The Richard Chandler Corporation announced today that Orchid Fund Pte Limited ("Orchid") has, on May 16, 2012, acquired beneficial ownership of 180,000 common shares (the "Acquired Shares") of the capital of InterOil Corporation (the "Issuer"), which represent approximately 0.37% of the issued and outstanding common shares of the Issuer.  As a result of this acquisition, Orchid's shareholding in the Issuer is now an aggregate of 6,025,851 common shares of the capital of the Issuer, which represents approximately 12.51% of the issued and outstanding common shares of the Issuer. The Acquired Shares were purchased on the New York Stock Exchange at an average price of US$56.8759 per common share.

As a result of this acquisition and applicable Canadian securities laws, each of Richard Chandler Capital Corporation ("RCCC"), RCCC's sole shareholder, Cosimo Management Limited (in its capacity as trustee of the R. F. Chandler Capital Trust, a discretionary trust) and RCCC's direct wholly-owned subsidiary, Richard Chandler Capital Corporation Pte Limited (which owns all of the shares of Orchid), is deemed to beneficially own the Acquired Shares.

The Acquired Shares were acquired in the ordinary course of business. Orchid, RCCC, Richard Chandler Capital Corporation Pte Limited and Cosimo Management Limited (in its capacity as trustee of the R. F. Chandler Capital Trust, a discretionary trust) may, from time to time and at any time, subject to applicable securities laws, acquire additional common shares of the Issuer and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Issuer in the open market or otherwise may dispose of any or all of its Securities in the open market or otherwise, at any time and from time to time, and to engage in any hedging or similar transactions with respect to the Securities, in each case subject to applicable securities laws.

About the Richard Chandler Corporation

The Richard Chandler Corporation is a private investment group based in Singapore and founded by New Zealand-born entrepreneur Richard F. Chandler. The Richard Chandler Corporation's mission, Building Prosperity for Tomorrow's World, adopts a holistic approach to building sustainable prosperity through investments in financial and social enterprises. Since 1986, the Richard Chandler Corporation has provided capital to companies and governments from Asia and Africa to Latin America and Eastern Europe, and invested in a wide range of industries, such as telecoms, power, steel, banking and energy.

Further Information

For more information, please visit: www.richardchandler.com

A copy of the report prepared in connection with the matters disclosed herein in accordance with applicable Canadian securities laws will be available at www.sedar.com or by contacting Richard Chandler Corporation at the address specified below:

James Macarthur Level 46 UOB Plaza 1 80 Raffles Place Singapore 048624 Tel: + 65 6210 5544 E-mail: jam@richardchandler.com

For media enquiries please contact:

Richard Barton Kreab Gavin Anderson Suite 1902-04 19/F, Kinwick Centre 32 Hollywood Road Central Hong Kong Tel: + 852 2523 7189 E-mail: rbarton@kreabgavinanderson.com

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/May2012/17/c8617.html

CO: Richard Chandler Corporation ST: Quebec NI: FIN MNA

-0- May/17/2012 14:10 GMT

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