Another successful well at the San Luis Field in Peru

InterOil has completed the sixth and final well in the 2010 drilling campaign on
the San Luis discovery in Peru. The well has been placed in dual completion
after testing, and is presently producing 700 bopd. Total production from the
San Luis discovery as per today is approximately 2'500 bopd.

InterOil has completed the testing of the sixth and final well, 13162D, on the
San Luis discovery. The well was drilled as an appraisal well to the West and in
a down flank position. The well encountered oil, in addition to gas in an
uppermost part of the Salina Mogollon formation. The gas zone suggests the
presence of an oil leg even further down flank on the San Luis structure. After
completion of the testing period the well was immediately dual completed and
placed in production. The well produces today approximately 700 bopd from two
zones trough a 3/8" choke, which is encouraging and higher than expected.

The San Luis discovery has proven the presence of a structure consisting of
several oil bearing intervals, some of which consists of good quality
reservoirs. The discovery will be the most important contributor to the
increased production from Peru going forward. InterOil will monitor the San Luis
closely and spend the next 3-4 months to update the reservoir models and prepare
for the next drilling campaign and water injection project in 2011. We suspect
the San Luis discovery to be larger than first anticipated and part of the 2011
drilling campaign will, in addition to production wells, focus on these
potential extensions of the San Luis discovery. InterOil plan the 2011 drilling
campaign on the San Luis discovery to start in May/June this year.

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

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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. 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 pursuant to section
5-12 of the Norwegian Securities Trading Act.


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