InterOil Experiences Continued Success in Peru, Colombia

InterOil is continuing its enhanced oil recovery (fracturing) campaign in Colombia, and has just finished the second well; TC 19, with another successful result. Initial production from the well is now 430 bopd, more than doubling of production before the "fracturing."

"The enhanced oil recovery program continues in Colombia with the successful completion of our second well," said CEO Nils Trulsvik. "Production from this well is now 430 bopd, up from 200 bopd, and we have already started our third well.

"Our new exploration well in Peru has reached the reservoir level at 2740 ft. with good indications of hydrocarbons and high pressure. Drilling will continue after logging and casing, down to approx. 3950ft. We shall have the final production level at the end of June. InterOil will drill minimum of two wells in this area of Block III."

The two shallow wells drilled in Block IV in Peru in the beginning of June, produce a total of 300 bopd, also higher than projected.