Interoil Exploration & Production ASA

12 February 2021

Below please find average gross operated production in January 2021 and corresponding numbers for December 2020.

IOX operated	January 2021		December 2020
	Boepd(1)	Bopd (2)	Boepd(1)	Bopd (2)
Colombia	901	615	1,098	666
Argentina (3)	2,548	270	2,700	299

1. Barrels of oil equivalents per day
2. Barrels of oil per day
3. Operated by Selva Maria Oil on behalf of IOX until local authorities approves operator’s licence.

Comments

As mentioned in the previous production report, average daily production for January 2021 was slightly reduced due to mechanical failure of equipment in several wells at the Puli C field in Colombia. Repair work is underway. It is still uncertain exactly when production may resume.

The one field worker that was quarantined with mild covid-19 symptoms in January is now out of quarantine. No new infections have been reported since.

Preparations for drilling of the commitment well on the Altair license continues. According to current licence terms this well should be drilled by April 2021. Conversations are continuing with potential farm-in partners for the drilling programme in LLA-47.

At the Vikingo site, topsoil replacement is underway, but not yet completed. This does not affect production at the field.

***************************

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. Interoil currently employs approximately 50 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.