Vikingo-x1 Operational Update

Oslo 21 August 2018

Since Vikingo's flow production stopped in early July, Interoilhas been keeping fluent and constructive social conversationswith the Duya's native community aimed at explaining the importance of the workover operation planned for Vikingo-x1 well.  These profitable conversations have been extremely important to understand each party's concerns whilst mitigate Duya's cultural angsts by the mobilization of a work-over unit. All these has led to grant their authorization to cross with the eighteen loads comprising the work-over rig through their territory.  Currently all of them are on-site and being rig-up in Vikingo-x1 to initiate work-over operation.  

 Interoil is planning the work-over program to last at least 10 days aimed at changing the downhole pump plus adapting Vikingo's production string so to either independently and/or commingle produce and test the C5 layer and the lower C7 layer. 

 Regardless of the positive outcome and recent improved social relationship with the Duya, Interoil keeps working to getaccess approval from private landowners through an alternative route named "The Northern Road".  Once all landowners grant us the right of way, we will be able toevacuate Vikingo's production and, also, move equipmentshould the Duya surprisingly block the access path through their territory again.

 Leandro Carbone, CEO, commented: We are pleased with the constructive and fruitful social improvement we are havingwith the Duya every day.  Regardless the improved social relationship with the Duya native communities, Interoil will focus on the "Northern Road" since having another transit road is crucial for our daily operation for the Vikingo-x1 production as well as for any other operation within LLA-47.

 

 Contact: [e-mail]

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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 the operator of several production and exploration assets in Colombia. Interoil currently employs approximately 70 people and is headquartered in Oslo.

 

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

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Source: Interoil Exploration & Production ASA via Globenewswire