Interoil Q2 2018 report

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...

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.

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