On 28 January 2010 Bondholder meetings were held in the "Unsecured Bond Issues",
pursuant to a summons of 19 January 2010 (the "Summons"). Separate voting
procedures were carried out for the two bond issues.

During the preceding information meeting InterOil explained the background for
the default situation and presented its ongoing efforts to sell assets and / or
refinance its debt in order to repay all creditors.

Prior to the voting procedures, InterOil presented an offer to the Bondholders
of the Unsecured Bond Issues whereby the InterOil will pay default interest from
and including 28 January 2010 until the Bonds are repaid in full, provided that
the Unsecured Bond Issues support InterOil ongoing efforts to sell assets and /
or refinance its debt, by not declaring the Bonds in default and accelerated as
per the Summons.

The results were as follows:

For the Bond issue with ISIN NO001032535.0 (the "Unsecured USD Bond") :

There were sufficient Bondholders present at the meeting to form a quorum. Based
on the voluntary offer extended by the company, the proposed resolution obtained
33.26 % of the votes, which, according to the voting requirements of the Bond
Agreement, was not sufficient for adoption. The proposal was not adopted by the
Bondholders' meeting and an event of default will not be declared. The Unsecure
USD Bond will therefore bear default interest rate from and including 28 January
2010.

For the Bond issue with ISIN NO001036280.9 (the "Unsecured NOK Bond") :

There were not sufficient Bondholders present at the meeting to form a quorum,
and no valid resolution was made, however based on the voluntary offer extended
by the company, the proposed resolution obtained 16.33 % of the votes. The
proposal was not adopted by the Bondholders' meeting and an event of default
will not be declared. The Unsecure NOK Bond will nevertheless bear default
interest rate from and including 28 January 2010.

For more information please contact:

Fredrik von Zernichow
Investor Relation Manager
Tel: +47 6751 8661
Mob: +47 9927 3843
Fax: +47 6751 8660
E-mail: f.zernichow@interoil.no 
www.interoil.no

***************************

InterOil Exploration & Production ASA is a Norwegian based exploration and
production company - listed on the Oslo Stock Exchange - with focus on
Latin-America and West-Africa. The company is operator of several production and
exploration assets in Peru and Colombia, and is an active license partner in
Angola and Ghana. InterOil currently employs approximately 250 people and is
headquartered in Oslo.


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


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