Report for the third quarter 2024

29 Nov 2024 21:19 CET

November 29, 2024

Highlights in the period

Interoil's total operated production for the first nine months of 2024 was
551,140 barrels of oil equivalent (boe), a decrease from 698,659 boe in the same
period of 2023. Operations in 2024 were impacted by downhole equipment failure
at the Vikingo well and harsh winter conditions in Argentina. These challenges
resulted in revenues of USD 13.5 million, down from USD 16.4 million in the
prior year.

In July, at the Company's request, bondholders approved amendments to the bond
terms to settle the full July 2024 interest payment in kind by issuing and
delivering additional bonds.

In August Interoil Colombia Exploration and Production ("ICEP") reached an
agreement with the Colombian National Hydrocarbons Agency -Agencia Nacional de
Hidrocarburos- (the "ANH") for a partial termination of the Exploration and
Production contract between ICEP and the ANH over the LLA-47 block. As part of
the agreement, the provisions related to exploration activities will be
terminated with no penalties, and the exploration area shall be returned to the
ANH. However, ICEP will continue production from the Vikingo well, for the
remainder of its economic life.

In August, Interoil issued a correction to its Q2 and H1 financial reports due
to an unintentional error in the Q1 figures. As a result, Finanstilsynet and
Oslo Børs ("OSE") initiated formal investigations. The company has provided
responses to the inquiries received in connection with these proceedings, and a
final decision is still pending.

In September the Company appointed Mr. Pablo Creta as new Chief Financial
Officer (CFO). Mr. Creta served as both General Manager and CFO of the Company
from 2017 to 2020.


Please see the attached Report for the third quarter 2024 for more details and
financial statements.


Please direct any further questions to: ir@interoil.no (mailto:ir@interoil.no)
***
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.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

633581_Interoil Q3 2024 Final.pdf