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Production report for April 2021

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12 May 2021

Below please find average gross operated production in April 2021 and corresponding numbers for March 2021.

IOX operated

April 2021

March 2021

Boepd(1)

Bopd (2)

Boepd(1)

Bopd (2)

Colombia

832

576

873

603

Argentina (3)

2,609

317

2,691

338

(1) Barrels of oil equivalents per day
(2) Barrels of oil per day
(3) Operated by Selva Maria Oil on behalf of IOX until local authorities approves operator’s licence.

Comments

Total daily average oil production decreased by 5.1 percent to 893 bopd in April compared to 941 bopd in March. Total production was 3,441 boepd, down from 3,563 boepd in the previous month.

In Colombia, social unrest is affecting most part of the society, including Interoil’s contractors and service providers where the most affected area is on the logistics side: i.e. transporting of spares and consumables to the fields, and oil sales from the fields to the market is difficult. This unfortunate situation is also causing further delay to the planned drilling of the Mazorca well in the Altair field.

In Argentina, meanwhile, the workover operation in the MMO-15 well has now commenced, as reported on 10 May 2021. When the well is brought back onstream, produced gas will be used to fuel surface production equipment, which in turn is expected to boost sale of oil from the field.

***************************

Please direct further questions to 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. Interoil currently employs approximately 50 people and is headquartered in Oslo.

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


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