Production update October 2010

The average production in October 2010, compared to the average production in
September 2010, was:


Production*   October 2010            September 2010
Peru               4'520                          4'204
Colombia       2'153                          2'091
Total               6'673                          6'295

*The production is average daily oil production (bopd) and is working interest
before royalty

The increased production in Peru is related to the two new wells set in
production on the new San Luis structure in Block III recently. The drilling
campaign in Peru is ongoing and InterOil expects to increase the production
further in the months to come. InterOil will inform the market accordingly.

Oil has been sold at average sales price of USD 80.60 in Peru and USD 77.97 in
Colombia per barrel during October.

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
www.interoil.no

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

InterOil Exploration & 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 of several production and exploration assets in
Peru, Colombia and Ghana. InterOil currently employs approximately 250 people
and is headquartered in Oslo.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1461353]