Interoil Exploration & Production ASA : Interoil Exploration & Production ASA : Approved prospectus and subscription period

Interoil Exploration & Production ASA : Interoil Exploration & Production ASA
           : Approved prospectus and subscription period commences

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA, HONG KONG OR JAPAN OR ANY OTHER JURISDICTION IN
WHICH SUCH DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE
NOTICE.

Reference is made to Interoil Exploration & Production ASA's ("Interoil" or
the "Company") stock exchange notice dated 19 March 2013.

The Company will today publish the Prospectus in connection with the
Subsequent Offering, the terms and conditions for which were announced on 19
March 2013. The Financial Supervisory Authority of Norway (Finanstilsynet) has
today reviewed and approved the Company's prospectus regarding:

- Listing on Oslo Børs of 200,000,000 new shares issued in connection
with a private placement completed on 14 March 2013 at a subscription price
per share of NOK 1.00; and

- Subsequent Offering and listing on Oslo Børs of up to 7,882,500 new
shares ("Offer Shares") at a price of NOK 1.00 per Offer Share with Allocation
Rights for shareholders in Interoil as of close of the Oslo Stock Exchange on
13 March 2013, as registered in the Norwegian Central Securities Depository
(VPS) on 18 March 2013 (the "Record Date"), who were not allocated shares in
the private placement
and who are not resident in a jurisdiction where such offering would be
unlawful, or for jurisdictions other than Norway, would require any filing,
registration or similar action (the "Eligible Shareholders").

In the Subsequent Offering, each Eligible Shareholder has been granted
non-transferrable allocation rights ("Allocation Rights") corresponding with
their pro rata ownership as per Record Date. Eligible Shareholders has
received 1.85 Allocation Rights for every one share held based on their
shareholding. The number of Allocation Rights issued to each Existing
Shareholder has been rounded down to the nearest whole Allocation Right.

Each Allocation Right gives the right to subscribe for and be allocated one
Offer Share in the Subsequent Offering. Over subscription in the Subsequent
Offering is allowed for Eligible Shareholders.

The following allocation criteria will be used for allotment of Offer Shares
in the Subsequent Offering:

The Subscription Period for the Subsequent Offering is from 26 March 2013 to 9
April 2013 at 16:30 CET. Please note that Allocation Rights that are not used
to subscribe for Offer Shares before the expiry of the Subscription Period
will be of no value and lapse will without compensation to the holder.

Allocation of the Offer Shares is expected to take place on or about 10 April
2013. Notifications of allocated Offer Shares in the Subsequent Offering and
the corresponding amount to be paid by each subscriber will be set out in a
letter from the VPS, which will be distributed on or about 10 April 2013. It
is expected that payment for Offer Shares will be made on 15 April 2013.
Trading in Offer Shares on Oslo Børs is expected to commence on or about 17
April 2013. The Offer Shares will be delivered through the facilities of the
VPS.

The Manager of the Subsequent Offering is Pareto Securities AS. Pareto
Securities was Lead Manager and Bookrunner in the Private Placement whereas RS
Platou Markets was Co-Manager.

The Prospectus together with the Subscription Form will be available at
www.interoil.no and www.paretosec.com. The Prospectus will also be available
free of charge at the business offices of Interoil and Pareto Securities AS.

For more information please contact:

Thomas J. Fjell
CEO
Mob: +47958 15300
E-mail: tfjell@interoil.no

Erik Sandøy
CFO
Mob: +47488 94426
E-mail: esandoy@interoil.no

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

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, Colombia and Ghana. 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.

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Interoil Exploration & Production ASA via Thomson Reuters ONE
HUG#1687901
 
Press spacebar to pause and continue. Press esc to stop.