Production update December 2009


The average production in December 2009, compared to the average production in
November 2009, was:


Production*   December 2009       November 2009
Peru               4?829                          4?033
Colombia       2?285                          2?203
Total               7?114                          6?236

*The production is average daily production (bopd) and is working interest
before royalty

The increase in production can be traced back to the ongoing drilling and dual
completion campaign. Three new wells in Peru have successfully been set in
production in December and the dual completion of four wells (produce from two
separate zones) has shown remarkable results. The best producing well in the
Mirador area in Peru is now producing more than 1?300 bopd (previously 600
bopd). The drilling, fraccing and first phase dual completion process is
expected to be fully completed during January. The total year end production was
more than 8?500 bopd, which is very encouraging.

Oil has been sold at average sales price of USD 73.48 in Peru and USD 69.09 in
Colombia per barrel during December.
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:f.zernichow@interoil.no 
www.interoil.no

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

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.

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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