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2014-04-02 08:01:00

INTEROIL UP

INTEROIL UP

YOGN.  InterOil Corporation (NYSE:IOC; POMSoX:IOC) (the "Company") announced today record revenues and products sold in its financial results for the full year ending December 31, 2013.

The year also resulted in new leadership at InterOil and agreement with Total S.A. of France to develop the multi-billion-dollar Elk-Antelope gas field in Papua New Guinea.

In March this year, InterOil also launched the start of a new US$300 million drilling program across four new petroleum prospecting licenses ("PPLs").

Front Rank of Asian Energy Companies

InterOil's Chief Executive, Dr. Michael Hession, said: "This past year was a milestone for InterOil. With new leadership and management, we moved quickly to bring greater stability to our operations in a way that would translate into improved performance and greater market confidence.

"Crucial to this was securing agreement with an oil major to develop on the Elk-Antelope gas field in Petroleum Retention License 15.

"In October 2013, the board approved InterOil's largest exploration and

appraisal program and one of the biggest in Papua New Guinea's history. We then accelerated preparation for exploration wells on our PPLs so we could drill as soon as we received the government approval.

"In March this year, approval was given and we successfully acquired the rights to the same acreage as we previously held, for the next six years.

"In March this year, we closed the sales and purchase agreement with Total S.A. of France to develop Elk-Antelope as a multi-billion-dollar LNG project for Papua New Guinea.

"These developments, together with our oil refinery and distribution businesses, position InterOil among the front rank of Asian energy companies.

The Right Team at the Right Time

"To deliver on this potential and realize the value of these assets, we have assembled an experienced, talented management team. In the final months of the year, new senior executives stepped into roles that they would formally assume early in 2014.

InterOil's growth and success depend heavily on the quality of this senior team to guide our exceptional staff and oversee our energy assets and I am confident that we now have the right team to realize InterOil's full potential.

"We also took significant steps to streamline our operations, bearing down on costs and rationalizing our offices and staffing. We announced the closure by the end of 2014 of our Cairns office, with the transfer of most functions to our office in Port Moresby. Though painful, it was important to align InterOil and ensure we focus our human and financial resources where they can have the greatest impact.

Operating Growth, Developing Growth, Future Growth

"These steps are integral to the strategy that I laid out on my appointment in July.

"This strategy has three horizons, detailing our vision to be a world-class

company developing world-class resources with world-class people who have a passion for working together, doing good work and making a difference.

"Horizon One is operating growth: running an efficient and financially stable business, with capital to support investment, low costs, strong skills and capacity, and streamlined processes.

"Horizon Two is developing growth: monetizing our gas resources through partnerships with world-class operators.

"Horizon Three is future growth: investing in new exploration across frontier regions in Papua New Guinea and the region and being a partner or operator of choice for new ventures.

Cash in Hand to Pursue an Aggressive Drilling Program

"In short, we want to make the most of what we already have; turn probable opportunities into realities; and work our possibilities hard so they can become realities.

"This year, we took important steps towards each horizon. The business, at year's end, was stable, assets were being monetized, and we had scaled-up our exploration work.

"The receipt of $401 million as part of the completion of the Total agreement will leave us with a well-capitalized balance sheet to aggressively pursue our exploration program.

Tags: INTEROIL, TOTAL, GAS, OIL, PAPUA, GUINEA

Chronicle:

INTEROIL UP
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

INTEROIL UP
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

INTEROIL UP
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

INTEROIL UP
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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