Report for the fourth quarter of 2024

28 Feb 2025 17:42 CET

Oslo, 28 February 2025

Highlights in the quarter and for the full year

Interoil's total operated production 2024 was 754.918 barrels of oil equivalent
(boe), a decrease from 949.778 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
16.8 million, down from USD 19.2 million in the prior year.

Interoil Colombia successfully completed a downhole intervention to the Vikingo
well. Current production at present is on average 150 bopd.

The Company decided to establish an Audit Committee on 18 October. The initial
members are Ms. Isabel Valado, who possesses a recognized background and
extensive experience in accounting, administration, and finance; Mr. Germán
Ranftl Moreno, who brings 25 years of experience in finance and accounting; and
Mr. Hugo Quevedo, Chair of the who has extensive experience in corporate matters
and the oil and gas and energy sectors

In August, Interoil revised its Q2 and H1 financial reports due to an
unintentional error in the Q1 figures, prompting formal investigations by
Finanstilsynet and Oslo Børs (OSE). In December, the investigations concluded,
resulting in a NOK 750,000 violation charge from Oslo Børs. Additionally, the
Norwegian Financial Supervisory Authority, imposed a NOK 800,000 violation
charge for breaches of applicable regulations.

Subsequent Events

In January, at the Company's request, bondholders approved amendments to the
bond terms to settle the full January 2025 interest payment in kind by issuing
and delivering additional bonds.

In January, Interoil launched its well service campaign in the Mana Field,
aiming to service five wells. The pulling rig is currently working on the second
well of the planned sequence. The campaign seeks to recover up to 50 bopd and
600 kscfpd of gas.

For more information, please see enclosed Interoil Exploration and Production
ASA's Report for the fourth quarter of 2024.

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.

More information:
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640168_Interoil Q4 2024.pdf