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Production report for March 2021

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Interoil Exploration & Production ASA
·2-min read
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15 April 2021

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

IOX operated

March 2021

February 2021

Boepd(1)

Bopd (2)

Boepd(1)

Bopd (2)

Colombia

873

603

885

612

Argentina (3)

2,691

338

2,545

279

  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 increased by 5.6 percent to 941 bopd in March compared to February, driven mainly by an increase in output from the Mata Magallanes Oeste (MMO) field, where minor repairs of surface equipment were undertaken in March.

The workover rig which will be engaged in the work to reopen the first 15 wells at MMO, has been inspected, certified, and accepted by Interoil.

In Colombia, the Vikingo well flowed steadily through the month, while production from the mature Puli C field continued to decline, resulting in a reduction in daily output of around 1.5 percent. As stated before, a pulling rig will be used to repair equipment in several Puli C wells in an effort to restore production at this field.

Drilling of the Mazorca well in the Altair field is somewhat delayed due to protracted negotiations with local communities, which is undertaken in consultation with authorities.

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

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.

The notice has been published by Mr. Geir Arne Drangeid, Partner and Senior Advisor, First House AS, at 07:45 CEST, 15 April 2021.

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