Production report for January 2022

Oslo, 15 February 2022

Below please find average gross operated production in January 2022 and corresponding numbers for December 2021.

(1)   Barrels of oil equivalents per day (includes liquid and gas)
(2)   Barrels of oil per day (represents only liquids)
(3)   Operated by Selva Maria Oil on behalf of IOX until local authorities approve operator’s licence.

Comments

In January 2022, average daily production was 3,358 barrels of oil equivalents per day (boepd), compared to 3,104 boepd in December 2021 for Argentina and Colombia combined.

The increase in total daily average is mainly a result of increased production in operations in both Argentina and Colombia, where both oil and gas output improved compared with the previous month.

In Argentina, oil production in the Moy Aike concession recovered after stabilizing liquids production after repairing surface equipment at the gas treatment facilities. The same happened in the Chorrillos concession where oil surface equipment were reconditioned allowing more production output. In general, on other fields, improvement was more modest since production at the wellheads had already reached stable levels in the previous months.

In Mata Magallanes Oeste (MMO) Covid-19 restrictions are removed. Interoil is waiting for some environmental approvals from local authorities required to reassume field operation.

In Colombia, oil and gas production in the Puli C field is back at satisfactory high level after completing the reactivation of the shut-in wells. The pulling rig program has been completed as programmed and the pulling rig demobilized in the last week of January.

In the Llanos area, oil production in Vikingo continues its natural flowing depletion rate as per its forecast. The planned exploration campaign in the Altair and LLA-47 blocks remains on hold and pending approval from authorities.

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

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Please direct any further questions to ir@interoil.no

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 operator and license holder of several production and exploration assets in Colombia and Argentina with headquarter in Oslo.