The average production in April 2011, compared to the average production in March 2011, was:
Production* April 2011 March 2011
Peru 4`191 4`669
Colombia 1`622 1`692
Total 5`813 6`361
*The production is average daily oil production (bopd) and is working interest before royalty.
InterOil has experienced high depletion on the San Luis Field in Peru during April. InterOil is working actively to reduce the depletion and plans to start the drilling on the San Luis field during third week of May. The Altair-1 well in Colombia was re-completed and put in production last week. The drilling campaign in Colombia is expected to start in late June.
Oil has been sold at average sales price of USD 118.52 in Peru and USD 116.27 in Colombia per barrel during April.
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InterOil Exploration & Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange - with focus on Latin-America. The company is operator of several production and exploration assets in Peru, Colombia and Ghana. InterOil currently employs approximately 250 people and is headquartered in Oslo.
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Source: Interoil Exploration & Production ASA via Thomson Reuters ONE