Oslo, 31 August 2026
Highlights in the period
Interoil's Total operated production for the six-month period amounted to 123,298 barrels of oil equivalent (boe), representing a decline from 314,036 boe recorded in the same period of 2025. The decrease primarily reflects the divestment of the Company's Argentine operations completed in February 2026, after which production was fully concentrated in Colombia. Production from the remaining Colombian assets was also affected by the natural decline of the producing fields during the period.
On 6 February 2026, the Company completed its strategic exit from its conventional operations in Argentina. The transaction included the divestment of the Company's interests in the Santa Cruz Sur joint operations, the La Brea Block, and the related rights associated with the Mata Magallanes Oeste (MMO) production concession and the Cañadón Ramírez (CR) exploration block. The consideration comprises up to USD 1.0 million, payable over a maximum period of ten months in contingent monthly instalments, each payable only if monthly production exceeds 47,000 BOE. At the time of the transaction, production was below this threshold. In addition, the Company retained an Overriding Royalty Interest (ORRI) equivalent to 80% of profits generated from monthly production exceeding 57,000 BOE. Following the transaction, the Group has exited its conventional operations in Argentina and is focused on its Colombian assets and the evaluation of new growth opportunities.
Subsequent Events
On 28 July 2026, bondholders approved a Written Resolution authorizing the settlement of the interest payment due on 31 July 2026 in kind (PIK) and granting a waiver in respect of delays in the Company's financial reporting under the Bond Terms of the company's senior secured callable bonds.
On 13 August 2026, the Extraordinary General Meeting approved a reduction of the Company's share capital from NOK 100.7 million to NOK 10.1 million, through a reduction of the nominal value per share from NOK 5.00 to NOK 0.50. The reduction amount will be applied against accumulated losses and is subject to completion of the applicable creditor notice procedure. Once implemented, the lower nominal value is expected to provide the Company with greater flexibility to evaluate potential equity-based and other capital structure alternatives as part of its efforts to implement a long-term capital structure solution before the bond matures in January 2027.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Please direct any further questions to: ir@interoil.no (mailto:ir@interoil.no)
About Interoil Exploration and Production ASA
Interoil Exploration and Production ASA is a Norwegian-based independent oil and gas exploration and production company listed on the Oslo Stock Exchange under the ticker IOX. The Company has operated in Latin America for over two decades, applying strong technical capabilities and a disciplined approach to value creation and sustainability. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
