The average production in November 2009, compared to the average production in October 2009, was:
Production* November 2009 October 2009
Peru 4’033 4’210
Colombia 2’203 2’155
Total 6’236 6’365
*The production is average daily production (bopd) and is working interest before royalty
The drilling campaign in Peru and Colombia is ongoing. The new wells in Peru have been tested with successful results and will be set in full production in December. In Colombia, five wells have been drilled, all encountering oil, and we are currently fraccing the wells in order to release maximum potential. In Peru, we have also started the process of dual complete (produce from two separate zones). Some wells have been shut down due to work over and the dual completion process, resulting in lower production. The drilling, fraccing and dual completion process is expected to be completed during the next couple of months, resulting in significant higher production than today. The total current production as of today is approximately 7’400 bopd.
Oil has been sold at average sales price of USD 76.00 in Peru and USD 70.98 in Colombia per barrel during November.
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: [email protected]
InterOil Exploration & Production ASA is a Norwegian based exploration and production company – listed on the Oslo Stock Exchange – with focus on Latin-America and West-Africa. The company is operator of several production and exploration assets in Peru and Colombia, and is an active license partner in Angola and Ghana. InterOil currently employs approximately 250 people and is headquartered in Oslo.