Production update December 2010

The average production in December 2010, compared to the average production in
November 2010, was:


Production*   December 2010        November 210
Peru               4'655                          4'484
Colombia       2'014                          2'094

Total               6'669                          6'578

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

The drilling campaign in Peru is ongoing and InterOil expects to increase the
production during January and February when the two last wells from the 2010
drilling campaign will be put in production during January. InterOil will inform
the market accordingly.

Oil has been sold at average sales price of USD 89.18 in Peru and USD 85.12 in
Colombia per barrel during December.

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)


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