Oslo, 30 August 2018:

  • Higher level of sales and Oil price improvement drives a 21% growth in revenues in the quarter from USD 6.1 million in Q1 2018 to USD 7.4 million in 2Q 2018.
  • The Company delivered an EBITDAx (EBITDA adjusted for exploration cost) of USD 4.0 million higher in USD 0.8 million than previous quarter.
  • Net comprehensive income came in at USD 0.1 million (Q1 2018: USD 0.3 million loss).
  • Last instalment of Vitol prepaid oil sales was delivered in April.
  • A comprehensive enhanced recovery strategy is being developed for Puli C, which has a challenging and complex geological structure. Potential measures include water flooding, chemical injection and new down-hole pumps.
  • Interoil and the ANH reached agreement to settle all outstanding claims and disputes between Interoil Colombia and the ANH concerning COR-6. We are expecting the arbitration tribunal's resolution. Subsequent events:
  • - Since July 5th, Vikingo is out of production and needing a workover due to a pump failure. The equipment arrived at location in the middle of August and the work-over program is currently underway.  
  • - On July 22 nd , the bond coupon was paid (USD 1.12 million).

 

For more information, please see attached Q2 2018 interim report

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

Attachment