Highlights
- Interoil’s net production in the first three months of 2024 was 104,836 barrels of oil equivalents (boe), up from 54,661 boe in the same period in 2023.
- Revenues were
USD 7.8 million compared withUSD 1.2 million in the corresponding period the previous year. The increase is mainly due to increased share in Argentina’s operations. - EBITDA in the first three months of 2024 was
USD 3.3 million , compared withUSD -0.5 million in the same period of 2023. - By virtue of requests filed by Interoil Colombia to the Colombian hydrocarbons regulatory agency (ANH), the terms applicable to Interoil’s exploratory drilling obligations in Llanos-47 have been postponed at least through
June 2025 . In the case of Altair, the current exploratory period is suspended until the end ofAugust 2024 . Once suspension is terminated, Interoil Colombia would be granted an additional term extension of 145 days, expected to be counted fromAugust 31, 2024 , onwards. In such event, the new deadline would be postponed to January, 2025. While no assurance can be given, postponement should continue beyond such dates as long as there are underlying reasons causing force majeure. - In January, on the Company’s request, bondholders approved amendments to the bond terms to settle the full
January 2024 interest payment in kind by issuing and delivering additional bonds. - In 2024, Interoil Argentina entered into a new commercial agreement with Compañia
General de Combustibles (CGC), one of the biggest O&G companies inArgentina , which operates the Loyola Port facilities, nearby Interoil O&G fields. This new commercial contract provides Interoil an alternative and profitable spot to deliver crude oil minimizing freight and increasing prices up toUSD 10 /bbl compared to previous destinations.
For more information, please see enclosed
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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Please direct any further questions to ir@interoil.no
About Interoil
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
- Interoil Q1 2024 report
![](https://ml-eu.globenewswire.com/media/YjI4N2UzYzYtMDNhMS00NjAyLTk3NWEtOWNlN2QyMWIzZDM4LTEwMTM3ODA=/tiny/Interoil-Exploration-Productio.png)
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