Top News

Showa Shell Surges 29% After Idemitsu Acquisition Report
Tweet TWEET

Interoil Exploration & Production ASA: Exploration investment commitments extended

  Interoil Exploration & Production ASA: Exploration investment commitments
                                   extended

Interoil E&P Colombia (IOC) has been awarded a 10 month extension to complete
the investment commitments on the LLA-47 exploration block. As per ANH
requirements, IOC will proceed with the shooting of seismic in Q4 2013 and Q1
2014, at a total cost of USD 14 million, but will then have more time to drill
the required 8 exploration wells by November 29^th 2015. The first well is
estimated to be drilled in 4Q 2014.

The extension was granted due to delays by the environmental entity in
Colombia to issue the necessary permits.

IOC will continue its efforts to farm-down its working interest on the block.



For more information please contact:
Thomas J. Fjell
CEO
Mob: +47958 15300

Erik Sandøy
CFO
Mob: +47 488 94 426

www.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 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.

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

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#1733009
 
Press spacebar to pause and continue. Press esc to stop.