Annual Statement of Reserves 2009

The reserves of InterOil E&P ASA ("InterOil") are located in Peru and Colombia.
As of 31 December 2009, InterOil's proven reserves ("1P") are 13.1 million
barrels of oil equivalent ("mmboe") and the 2P reserves are 15.0 mmboe. This
represents a decrease of 4.8 mmboe of the 1P reserves, and 4.9 mmboe of 2P
reserves compared to 31.12.2009. The equity production in 2009 was 2.6 mmboe.

The reserves have been estimated and classified according to the "Petroleum
Resources Management System", developed and approved in March 2007 jointly by
the Society of Petroleum Engineers, World Petroleum Council, American Society of
Petroleum Geologists and Society of Petroleum Evaluations Engineers and have
been audited by the independent petroleum engineering firm of Gaffney, Cline &
Associates Inc. The corresponding audit reports are attached in the Annual
Statement of Reserves for 2009.

This Annual Statement of Reserves has been prepared according to the guidelines
issued by the Oslo Børs in Circular No. 9/2009 of 17 December 2009.

For further information regarding InterOil's reserves, please see the Annual
Statement of Reserves (ASR) for 2009 enclosed.
For more information please contact:

Fredrik von Zernichow
Investor Relation Manager
Tel: +47 6751 8661
Mob: +47 9927 3843
Fax: +47 6751 8660
E-mail: f.zernichow@interoil.no

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InterOil Exploration & Production ASA is a Norwegian based exploration and
production company - listed on the Oslo Stock Exchange - with focus on
Latin-America and West-Africa. The company is operator of several production and
exploration assets in Peru and Colombia, and is an active license partner in
Angola and Ghana. InterOil currently employs approximately 250 people and is
headquartered in Oslo.


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