Report for the fourth quarter of 2022

28 Feb 2023 16:45 CET

Oslo, 28 February 2023

Highlights in the period

Gross production in Q4 2022 increased 4.3% as compared to the previous quarter
(Q3).

Oil Brent prices for Q4 2022 decreased to the range of USD 80-93/barrel, which
reduced the Company's revenues and consequently, the EBITDA when compared to the
previous quarter.

While the quarter overall operated production increased, the equity output
experienced a slightly reduction caused by a decrease in Colombian production
which was not compensated by Argentine equity figures.

Most of the Colombian flows' reduction is explained by the number of shut-in
wells in Mana Field due to downhole equipment failure waiting for the arrival of
the next work-over campaign expected to start as soon as enabling conditions
(including community approval) are satisfied.

The Vikingo well production continues its slow but steady reduction in its flow
as per its forecasted natural depletion rate.

Interoil finished the environmental survey in Bajo Guanaco Block, a required
document to be filled-in with the Neuquen Authorities prior to the downhole
interventions and testing of the two existing wells.

Subsequent events and current plans

In January 2023, the Company timely paid accrued and due interest on its
corporate bond.

Early in February 2023, the Company received formal approval to its acquisition
of the 8.34% participating interests in five concessions in Santa Cruz,
Argentina where the Company also serves as operator

The Company has continued to work with the relevant Provincial authorities on
the satisfaction of the requirements to restart full activities in the MMO and
Cañadón Ramírez fields (Chubut) and expects an imminent reopening of such
fields.


For more information, please see enclosed Interoil Exploration and Production
ASA's Report for the fourth quarter of 2022.

This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.

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Please direct any further questions to ir@interoil.no (mailto:ir@interoil.no)

About Interoil
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 and license holder of several production and
exploration assets in Colombia and Argentina with headquarter in Oslo.

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583896_Q4 2022 Report final.pdf