Production report for June 2024

Production report for June 2024

Issuer

Interoil Exploration and Prod

Oslo, 21 July 2024

+----------------+----------------------+----------------------+
| | May 2024 | June 2024 |
+----------------+-----------+----------+-----------+----------+
| Operated | Boepd (1) | Bopd (2) | Boepd (1) | Bopd (2) |
+----------------+-----------+----------+-----------+----------+
| Colombia | 661 | 443 | 629 | 412 |
+----------------+-----------+----------+-----------+----------+
| Argentina | 1,662 | 284 | 1,090 | 185 |
+----------------+-----------+----------+-----------+----------+
| Total operated | 2,323 | 727 | 1,719 | 597 |
+----------------+-----------+----------+-----------+----------+
| Total equity | 1,154 | 411 | 885 | 348 |
+----------------+-----------+----------+-----------+----------+

(1) Barrels of oil equivalents per day (includes liquid and gas)
(2) Barrels of oil per day (represents only liquids)

[boepd]: barrels of oil equivalents per day (includes liquid and gas)
[Operated]: 100% field production operated by Interoil
[Equity] : Interoil's share production net of royalties.

Comments

Interoil's daily average operated production in June was 1,719 boepd, down 604
boepd compared with figures for May. June's daily operated production reduction
in Colombia drop by 31 boepd (24%), while output from Argentinian fields was
down by 571 boepd (76%) compared with the month prior.

In Argentina, the decrease in operated production stems mainly from the Santa
Cruz fields, where harsh winter conditions impacted the Patagonian region with
temperatures reaching 20°C below zero. These events blocked national routes and
oilfield paths, and the local authorities issued roadblocks as a safety measure,
making it difficult to access services and materials to the operations. The
pulling rig and some oilfields had to be postponed, due to road access
impediments and safety considerations. These extreme weather conditions are
expected to continue during July. In Mata Magallanes Oeste (MMO), the monthly
average production reached 25 bopd.

In Colombia, production in Puli C had a slight decrease of 8 boepd in line with
natural reservoir depletion in Mana, Rio Opia and Ambrosia fields. The company
is working with local communities in the Puli C surroundings aiming to grant
their approval to initiate a pulling campaign to recover at least 100 bpd of oil
and 500 Kscfpd of gas outflows. The Vikingo production experienced a production
reduction of 23 bopd showing that its downhole equipment is experiencing a worn-
out due to its current working parameters.

The exploration campaign in Altair and LLA-47 blocks remains on hold pending
approval from local authorities. Conversations with the ANH concerning the
formal approval is still on hold waiting for the new authorities to take
position.

Additional information

Further details about production performance are shown in the document attached.
The two graphs and tables show operated and equity production of oil and gas
respectively and by country. Operated production is defined as total output from
fields operated by Interoil. Equity production is Interoil's share of production
net of royalties.

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

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

Please direct any further questions to [email protected] (mailto:[email protected])
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.

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

More information:
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623909_Interoil June 2024 Detailed Production Report.pdf