Interoil Exploration & Production ASA : Interoil Exploration & Production ASA : Colombia drilling program update and appointment

Interoil Exploration & Production ASA : Interoil Exploration & Production ASA
 : Colombia drilling program update and appointment of new General Manager in
                                     Peru

The results of our first Monserrate well (MNS-4) show an average daily
production of 155 bopd and 176 boepd including associated gas. The well was
drilled to 3740 ft with a 15.5 degree deviation. 207 ft. of net sands were
selected for perforation. GOR was 710 scf/stb of 26.5 API oil gravity with
0.3% BSW.

The well is producing in accordance with our expectations.

Phase 1 of our drilling program is continuing according to plan and the second
well (MNS-6) has been completed and is currently undergoing testing.

In Peru, Mr. Steven J. Benedetti has been appointed as General Manager of
Interoil Peru. Mr. Benedetti is a US citizen with more than 35 years of
international upstream oil and gas experience which includes Colombia,
Argentina, Venezuela and Chile.

                                    * * *

For more information please contact:

Thomas J. Fjell
CEO
Mob: +47958 15300

Erik Sandøy
CFO
Mob: +47 488 94 426

www.interoil.no

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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 and Colombia. Interoil 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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Source: Interoil Exploration & Production ASA via Thomson Reuters ONE
HUG#1710560