InterOil Reports Fourth Straight Colombian Success

InterOil Exploration & Production ASA has successfully completed the drilling of the infill production well TC 19 in the Toqui Toqui Field in Colombia. This is the fourth successful well drilled in Colombia within the last 3 months. During the initial testing the well flowed 490 bopd. This is significantly higher than the existing producing wells on the Field.

"This is another encouraging result and indicates once again that we are on the right track," said Nils N. Trulsvik, CEO of InterOil Exploration & Production. "The volume is even larger than TC 18, which we announced on February 6. The result opens for further extension of the producing Toqui Toqui field to the West."

InterOil is the operator of the field with Ecopetrol, the Colombian State oil company as a 50% partner. The well was drilled to a depth of 6000 ft at a near-horizontal angle through the reservoir.

All four wells drilled in the last 3 months together with the new 3D seismic confirms the new model for the Toqui Toqui field and InterOil are planning another 6 wells in the this area along the same geological trend.

"With the new understanding of the area we are very optimistic of the upcoming wells to be drilled in Colombia in 2007," said Trulsvik.

The production well TC 18, announced February 6, is still on production and on Wednesday produced 300 bopd.