Business Update Call

Company Participants

• Wayne W. Andrews

• Michael Hession

• Donald Spector

Other Participants

• Benny C. K . Wong

• Pavel S. Molchanov

• Chris McDougall

MANAGEMENT DISCUSSION SECTION

Operator

Ladies and gentlemen, we'd like to thank you for standing by for the InterOil Conference Call. We're going to allow

another minute or two to gather more participants, and then we'll kick today's conference call off. On behalf of today's

panel, I'd like to thank you folks in your patience in waiting. Thank you, kindly folks.

[Music] (00:17-01:48)

Operator

Ladies and gentlemen, we would like to thank you for standing by, and welcome to the InterOil Conference Call. At

this time all participants are in a listen-only mode. Later we'll conduct a question-and-answer session with instructions

being given at that time. [Operator Instructions] As a reminder, today's call will be recorded.

I would now like to turn the conference over to your host and facilitator, Mr. Michael Hession. Please go ahead, sir.

Wayne W. Andrews

Hi. This is Wayne Andrews with Investor Relations for InterOil Corporation. Before we start, I want to briefly remind

everyone that some of the statements made during this conference call constitute forward-looking statements within the

meaning of the U.S. securities laws, including such statements as those regarding expectations of future results, general

financial performance, future business prospects and strategies. These statements are based on management's current

expectations and are subject to a number of risks and uncertainties, which could cause actual results to differ materially

from those described in the forward-looking statements.

Investors are cautioned not to place undue reliance on these statements. Additional information about factors that could

cause our results to differ materially from those in the forward-looking statements can be found in the company's

filings with the U.S. Securities and Exchange Commission and SEDAR.

The speakers on the call today from management, we have Dr. Michael Hession, our CEO; and Don Spector will be

available during the Q&A. We have a presentation to accompany our comments today. The presentation can be

accessed on our website at www.interoil.com. You can find the link under Investor Relations section on the Homepage.

At this time, I'd like to turn the call over to Dr. Hession. Michael?

Michael Hession

Thank you very much, Wayne. And good evening, good morning to wherever you are in the world and thank you for

coming on the call – to our investor call today. Now, I've got Don Spector in the room. Don will be talking a little bit

about the deal in some detail, but what I'll take you through is the context. I'd like to talk you through some of our

exploration upside and give you some color to where we are. It's a good day for InterOil.

Now, today, we have completed the Total deal and I want to talk you through some of the context around that. When I

first joined InterOil, there was three major things that I said I was going to set out to do. I was going to stabilize the

company; I was going to monetize the assets associated with – monetize the asset of Elk-Antelope in PRL 15, and I was

going to secure exploration upside. Well, today I can tell you that we're well on our way to achieving all those goals.

First, in terms of stabilization. Well, I believe we've now got a much more financially efficient operation. We've cut

costs, we streamlined our operations, you'd be well aware that we've reduced the number of offices, and we've closed

down part of the company that were not, in our opinion, adding value. I've also brought in a new management team. A

new management team, they are really focused on monetizing the Elk-Antelope and securing the growth that I believe

this company has got.

So, if we go to slide four, I won't spend very long on slide four. It's just a context for the people who are less familiar

with us. This is our downstream operations. We've got a very good position in-country in terms of refinery and our

distribution network. But really what I want to talk to you about is the deal today, PRL 15 and growth.

So, let me take you to slide five. Now, slide five is a map of Elk-Antelope in PRL 15. You're seeing the red, that is the

distribution, geographic distribution of Elk-Antelope. Very importantly, there's a yellow outlined area. That's Antelope

Deep. Now, that's a very, very significant exploration prospect that fits in PRL 15, and it's got the potential to be as big

as Elk-Antelope. And we'll be talking about drilling that out later in the year.

Let's bear in mind Elk-Antelope is one of the biggest gas discoveries in Asia in the last 20 years. So, what we've got

there is a very, very valuable asset. And I think what you'll see today, that's been recognized by the buyers, people who

have come into it and the new joint venture.

So, what have we got here? If we go to page six, what do I like about page six? What do we get across here? Today,

we've got a strong JV. We've got Total. Total are a very, very experienced LNG player, a very, very experienced LNG

operator, huge amount of experience in building these sorts of projects, huge amount of experience in monetizing these

sorts of gas prospects and gas fields.

Obviously, we've also got Oil Search, a very, very experienced player in PNG. So, when you think about it, where we

are now? We've got InterOil, we've got Oil Search and we've got Total, all extremely credible oil and gas players

moving forward to bring this gas to market.

What's been very important to us throughout this process, and I've repeated this on a number of occasions, is to ensure

that we've got a material stake, a material stake in this project going forward. A project that I believe has got upside.

What we've also got now, and Don will talk about it in the next slide, is cash proceeds are being retained. So, we've got

a great project, cash in the bank, and a great joint venture. I think this is going to lead us to a place where we're going to

get this gas monetized at the appropriate speed. And before very long, we'll be talking through, going through BOD,

FEED, towards FID and the first gas for this new greenfield project. This field today is part of the transformation of

InterOil.

What we've got, I think, is a significant unencumbered LNG player, that's going to extract value for this asset base.

That's us. What have we done? We've immediately monetized our world-class resource and introduced a major player

to develop this resource, a player like Total. They are truly a world-class operator.

It strengthens our financial position and provides us capacity to retain and aggressively explore the remaining acreage

around Elk-Antelope. That acreage is something that we believe is highly prospective. We believe what we're talking

about today is a deal that delivers best value to InterOil's shareholders and ensures the most efficient route to further

economic development for the people of Papua New Guinea who, at the end of the day, own this resource. A very, very

good day for our company. And what we'll be able to do now is concentrate on exploiting, monetizing this gas and

exploring for more gas.

Now, before I talk about the strategy, the upside and the potential for growth, what I'm going to do is I'm going to hand

across to Don, and Don is going to talk through some of the deal metrics. So, Don, if I can pass across to you. Thank

you.

Donald Spector

[indiscernible] (09:17) Thank you, Michael. Good morning, everybody. Now, just before we do start on the metrics, I

do want to bring to everyone's attention that it was subsequent to our release earlier today, we have now concluded the

deal to purchase 1% of the outstanding IPI interest. So therefore what that will now mean is that InterOil will now have

a gross interest of 36.5% as just [indiscernible] (09:45) 35.5% which is on your slide pack there.

Now, if we move into the deal itself, under the revised agreement that was signed today, Total have now acquired to the

purchase of all the shares in a wholly owned InterOil subsidiary at 40.1% interest in PRL 15. Now, we have agreed

with Total to take all the components of the previous deal that we had back in December and take a straight pro rata

share of all of those payments.

So, what does that mean for InterOil? And so we will receive $401 million as a completion payment. We will receive

$73.3 million in FID and we will receive $65.4 million at the time of the first LNG cargo. Now the formula for the

resource payments have not changed, so we will receive the same amount per Tcfe, that we based on the sale of 40.1%.

In relation to the carry, again, we will be carried for our full cost in the first three appraisal wells of up to 100%, well

cost of $50 million per well. Well cost in excess of $50 million will be in our account as they would have been under

the previous deal on December. On the PRL 15 exploration carry, again, we will be carried for our full cost up to

100%, well cost of $60 million.

The exploration bonus in the event of a discovery will now be $65.4 million per Tcf for amounts above the first Tcf

discovered. And finally, and most importantly, there are no CPs to completion of this deal. As Michael mentioned

previously, this transaction has completed today. And Total is now part of our joint venture.

If we move on to slide eight, let's take a closer look at what we could expect to see coming out of this transaction. And

based on the GCA report of 7.1 Tcfe, which was used to underpin also its acquisition of Pacific LNG, our total

consideration would be approximately $1.6 billion. This equates to $0.73 per Mcfe.

At the upper end of the range, which is based off the GLJ High Case of 11.8 Tcfe, total consideration will be as high as

$3.5 billion. Now, as you can see from these numbers, PRL 15 is an extremely valuable asset in our portfolio and

today's deal with Total has started to unlock that value for our company.

Now, on that note, I'll now pass back to Michael who can then talk about what the deal means for the future of InterOil.

Now back to you, Michael.

Michael Hession

Yeah, thanks, [audio gap] (13:00-13:07) asset is being monetized. An asset, world-class asset that has been recognized

in the market has I think considerable value. One of the things that really excites me is the growth potential of this

company. We do really have some highly prospective exploration acreage, we really do. As you'll be well aware, we

were awarded four new PPLs in early March, which covered our pre-existing acreage. It's the acreage that we know

well and it's acreage that we've looked at very hard over a number of years.

And that's been awarded for six years going forward. About 16,000 square kilometers, 4 million acres of prime acreage

that surrounds Elk-Antelope. Now, there's one thing about this business. You do find hydrocarbons where you've

already found hydrocarbons. And we've got a major accumulation of gas in the middle of this basin. It's an

under-explored basin, and history of this business will tell you it is very, very rare to have one major accumulation in a

basin.

You'll be well aware that we've got Triceratops. And we believe there is other gas to be discovered in this basin. And

what we're going to do is we're going to explore this basin aggressively. We've already spudded Bobcat. We've already

spudded Wahoo. It's our intention to spud Raptor in the next few days, all prospects which have got a multi-Tcf tank

size, the potential to deliver a game-changer for this company, the potential to move the dial for this company yet

again. I mean, we really like this gas basin. And a number of companies like it, but obviously, we've got a position right

in the center of the basin.

So we've got an aggressive exploration program. What you're going to be seeing is four exploration wells. Now, if you

remember, initially, I talked about Antelope Deep. And that is truly a giant prospect. That could be another

Elk-Antelope. Exploration is exploration. Exploration results in discoveries, exploration results in dry holes. But every

piece of work we've done so far, we believe this basin is really worth an aggressive exploration program. I'm very, very

excited about it. And I think this basin would stand up against any basin on the globe.

What does this mean for us? Okay. Well, over the next 18 months, we're going to be drilling eight wells. And four of

those are going to be appraisal wells, and three on the giant discovery, the Elk-Antelope, where we'll be working

through an appraisal program in supported of – supported by Total and Oil Search to understand the size of this

resource. We'll be operating Triceratops, and we're hopeful about that.

We'll be drilling Antelope Deep. And then we've got as I said Wahoo, Bobcat and Raptor. This is what we are today,

ladies and gentlemen. We're an oil-and-gas company with a good asset, good operations and a really exciting growth

portfolio.

Now if I go across to slide 10, what we've got is there, for the geologists amongst us, is a description of three trends,

Trend 1, Trend 2, Trend 3. Now Trend 1 has been good to us. Trend 1, as you can see, we've got Elk-Antelope and

Triceratops. We've already got two discoveries in these [indiscernible] (17:00). We're going to be testing that trend

further with Bobcat-1 and Antelope Deep. Trend 3, well, that's Raptor, we'll be testing that trend. And Trend 2, we

anticipate we'll be testing that trend in the future exploration program over the next six years.

So, what I'm trying to get across in this slide is there's more than the next three exploration wells. There's a number of

trends and a number of prospects which will firm up over the next six years in a very methodical way. And it's really,

really very exciting for us as a company. A company our size with a major global asset like Elk-Antelope, a company

our size with this depth and breadth of an exploration portfolio in a proven gas basin is, I believe, a truly extraordinary

opportunity, truly extraordinary opportunity for us.

And I'm looking forward to the team I've assembled, who have got experience in this play. They've got experience not

only in PNG. They got experience in LNG. They got experience in exploration. And fully salute the previous team

associated with the company, but this new team, who have experienced with BP, the shales of the world, the ARCOs of

the world, the Woodsides of the world, is a team that I believe can fully exploit this wonderful opportunity and asset set

that this company has got.

So, if I go to the last slide, slide 11. It's about saying what you're going to do and then doing it. And what we said from

the start as a team is we were going to stabilize the company. We were going to take a look at our operations and make

them as financially efficient as possible. I believe today we're running an efficient operation, we will continue to look

for efficiencies. But in my opinion, we've made major strides in that direction.

Two, we've got a material stake and a good project with good partners. Total and Oil Search, an absolutely credible JV

[indiscernible] (19:04) the test in any part of the world. And we secured our future growth. You shouldn't underestimate getting that pre-existing acreage in this new world. That very highly prospective gas basin, we've got a

major position in there. And what we're going to do is we're going to go out there, explore aggressively and I truly

believe we're going to find more hydrocarbons.

So, why have we done this? At the highest level, what we've done is we've turned IOC into a normal upstream oil and

gas company. So, it's not only transparent and investible, but with very, very exciting prospects. It's a good day. It's a

very good day for our company and I'm very pleased to be able to talk to you tonight.

So, with that, I think, run through, what we probably do, Wayne, is I guess we'll invite questions from the audience.

Wayne W. Andrews

Okay. Yeah, moderator, we're ready to begin the Q&A.

Q&A

Operator

[Operator Instructions] Our first question will come from the line of Benny Wong of Morgan Stanley. Please go ahead.

<Q - Benny C. K . Wong>: Thanks. So, my first question is for Michael. Now, that you have shared the sell down,

improved liquidity and made some management changes and restarted the impact exploration program, what's the next

most important thing for you to achieve? Should we expect to see you market more or where does your focus turn from

this point on?

<A - Michael Hession>: I mean, we've taken some first steps. We really have to focus on making sure we develop this

asset in the appropriate fashion. And there will be a lot of work done through BOD and FEED, working with Total or

working with Oil Search to ensure we do that in the most efficient fashion, the most commercially sound fashion. There

will be a lot of effort in that space. And then obviously, we're going to ensure that we drill these four exploration wells,

indeed all eight wells, we're going to drill them safely. We're going to drill them efficiently and we're going to test the

thesis of this very gassy basin. So, we've got a lot of good work to do, and I'm really very excited that it's going to

deliver value for us as a company.

<Q - Benny C. K . Wong>: Great. My second question is given the liquidity and the $400 million on the balance sheet

from this deal and with the four-well carry, do you now expect to potentially add a fifth rig? And if so, can you provide

a timing update on both the fourth rig and any potential others arriving on this field, and maybe your view on the

funding cover?

<A - Michael Hession>: Let me talk to you about rigs. We believe at the moment, Benny, that we've got enough rigs to

execute what we need to execute at the moment. It will depend. It will depend on how successful the exploration

program is. There is a scenario, Benny, and you've gone through it. If we have success in Wahoo and Raptor, if we

have any success in this – in Bobcat, then we'll have to move into appraisal drilling. Yeah. I mean, that's really a good

problem to have. And if you have that success, then there is a potential to need more rigs. But we're not yet at that

stage. Let's find out what we've got. I've got enough rigs, and I've got enough capability within those rigs to execute the

planned exploration program.

In terms of ability to finance it, well, let me turn over to Don. Don, do you want to make a comment on that?

<A - Donald Spector>: Yeah Benny the – You absolutely correctly stated it. With the proceeds that we receive from

Total, we are now able to fund our drilling program going forward after the middle of next year. But obviously, with

that money coming in, we will now spend some time, we'll sit down, and we'll have a look at the balance sheet structure

to make sure that we're comfortable with that, and then we will then determine what the most appropriate capital

management strategy is for us as we go through this drilling program.

If we need to change that, we'll obviously do that at the appropriate time, but [indiscernible] (23:34), the key point is

the money we get from Total today keeps us fully funded throughout the drilling program. That's a major achievement

for our company.

<A - Michael Hession>: Thank you, Don.

<Q - Benny C. K . Wong>: Great. That's great. I just have one final question. With your new partner, Oil Search as –

in exploration, how are decisions made regarding newly discovered gas, meaning with two potential venues, one with

Exxon and the other, ultimately, Total-led, how does the partnership make that decision? Do you guys have ultimate

control on that?

<A - Michael Hession>: Benny, well, I've got a huge amount of respect for Oil Search and Total and the way these

companies make decisions. I mean, Peter Botten's got an immense amount of experience in PNG. And so, what we'll do

here [ph] and JVs and of (24:25) Total, what we're all driven to, we're aligned in making the right commercial

decisions, yeah.

So, we're going to sit down, we're going to look at what we've got, and we'll understand when we appraise what we've

got, we'll do the normal and selective concept, we'll do the normal selecting the BOD phase, and we'll sit down and

we'll work through what's the most rational outcome.

So, I don't want to preclude what that's going to be when we get to the end of that process. But what I can give you an

assurance is, we're all economic rationalists in this venture and we're going to be driven by the economics.

<Q - Benny C. K . Wong>: Great. That's all are my questions. Thank you.

<A - Michael Hession>: Thank you very much, Benny.

Operator

Our next question comes from Pavel Molchanov of Raymond James. Please go ahead.

<Q - Pavel S. Molchanov>: Well, thanks for taking the question and congrats on getting the deal closed. So, now that

you have $400 million or so in the bank, can you talk about the use of proceeds, anything perhaps in addition to the

exploration program?

<A - Michael Hession>: I think as – by the way, good morning to you. Now, I think, as Don stated that, what we need

to do is we need to take a pause. We need to understand we are a company that is opportunity-rich, and we've got a lot

of exploration prospects. We've got a situation where we've got a world-class asset that we need to operate. So, we're

pleased about that. And, I guess, in this world, to be opportunity-rich is a good thing. So we'll decide what's the best use

of our dollar and we'll do that in an absolutely economic rational way.

Do I have plans to go out and expand overseas? Not at all. I'm going to focus on doing what we do well. We've got a

great basin here. We've got a great prospect, and we've got a great set prospect, excuse me, and we've got a great asset

in Elk-Antelope. So, we'll be very focused on that, and we'll be very, very prudent with shareholders' money.

<Q - Pavel S. Molchanov>: Okay. Let me also have kind of a bigger picture question about the nature of the LNG

budget that's out. You said in the press release that you would like to bring the gas to market as quickly as possible.

<A - Michael Hession>: Yeah.

<Q - Pavel S. Molchanov>: Is there any way to accelerate FID prior to, let's say, the second half of 2016 and project

completion? I think you've talked about 2020. Is there anything that could bring that cash flow forward in time?

<A - Michael Hession>: Pavel, look, that's a very good question. And really what we'll do and we have done so far is

we're looking at getting to cash flow as early as we possibly can. So, one of the obvious areas is we've got an appraisal

program on Elk-Antelope, and then there are things we can do in terms of starting the BOD in parallel and even

possibly starting to FEED in parallel. So, we'll look at what work we can do in parallel to make sure we bring this to

fruition as fast as possible, but we're going to be prudent about it. We're not going to rush. We're going to do it at the

right pace.

I mean in our business, I mean, these are multi-billion dollar projects. It has to be planned properly. Now, so, we've got

to get that balance right. We're going to do the appropriate amount of planning to make sure we get the engineering

right, get sure we understand the subsurface appropriately and then we're going to move forward to a development. So,

we'll cut out unnecessary studies. We'll cut out distractions and we'll move forward as fast as we possibly can in a

prudent fashion to deliver this project in a timely fashion.

<Q - Pavel S. Molchanov>: Okay. And then last one for me is on the three wells, two of them already drilling, one of

them spudding shortly. Do you have any pre-drill resource estimates that you can share with us?

<A - Michael Hession>: What I'd like to say is there's always a degree of uncertainty on the size of prospects. But I

think I'm comfortable to say each one of these prospects is multi-Tcf that has the potential to deliver a multi-Tcf

discovery. That will depend not only on the size you see on seismic but the net to gross and various other factors you'd

be very similar with. So, I think it's probably the safest to say each one of these prospects could move the dial

significantly for our company in terms of value simply because they could be multi-Tcf.

<Q - Pavel S. Molchanov>: Okay. I appreciate the color on that. Thanks very much.

<A - Michael Hession>: Thank you.

Operator

Our next question will come from the line of Chris McDougall of Westlake Securities. Please go ahead.

<Q - Chris McDougall>: Hello, gentlemen. Congratulations on closing the transaction.

<A - Donald Spector>: Excellent. Thanks, Chris.

<A - Michael Hession>: Thanks very much, Chris.

<Q - Chris McDougall>: So, Michael, with Oil Search buying the position directly from Pac LNG, that wasn't

originally lined out in the agreement with Total. So it sounds like you are able to rework the agreement to completely

align with the original economics, even though it wasn't really set up that way. Was that something that you had

anticipated before, or is this something new? And then just talk to us about the process. It seems like it was a good

working relationship with Total, and everybody kept the deal the same and just moved forward as quickly as possible.

<A - Michael Hession>: Yeah, you've pretty much got it, Chris. I mean, we've worked with Total in good faith

throughout this process. Total has been extremely pragmatic, and we believe we've been pragmatic in the process. Your

key question, was it a surprise? No, it was no surprise. I mean, there's a lot of this work that goes on in the background.

Some of it comes to fruition; some of it doesn't come to fruition. So, Oil Search are a credible JV partner, Total are a

credible JV partner. And the beautiful thing is, we're all aligned now. We want to get this gas out, and we want to get

this gas to market as fast as reasonably possible.

<Q - Chris McDougall>: Okay, great. And then on the Gaffney Cline report that was released as part of the Oil Search

transaction, as least commented on, I guess the P50 or the 2C assessment was 7 Tcf. Can you share 1C or a 3C number,

or a P10 and P90 number?

<A - Michael Hession>: I don't want to do that because we're in a situation where we're doing these appraisal wells for

a reason. Yeah. We don't comment on 1Cs and 1Ps, et cetera. We're out there now. We're out there going to appraise

this thing, and it could take two wells, it could take three wells. I'd be in a position I'm thinking probably mid-next year

to give you some more color on the reserves.

I anticipate that we'll be spudding the first appraisal well. I'm going to say we're going to target that before August.

We're out there preparing the pad at the moment. Each one of these wells take about 90 days, three months. If we go

two, you can see six months and then we're going to have to have a situation where we do a reserve report. If it's three

wells, that's going to go into the middle of next year. So, I'll be able to give you much more color around that once

we've all got together, drill the wells, reassess the seismic, and we'll have a good idea what this reserve is.

<Q - Chris McDougall>: Okay. Great. And so, with the appraisal program, are you going to do an extended well test

on any of these appraisal results that's been an area of some discussion for years? And I just wanted to...

<A - Michael Hession>: Yes.

<Q - Chris McDougall>: ...understand kind of the testing involved.

<A - Michael Hession>: Yeah. Well, that actual testing program, we're still working through that. One of the

possibility is to do an extended well test. The way logs are today and the way the coring is today, you can do a lot of

work and understand potential flow rates from that. So, I'm going to leave that to my reservoir engineers, and I'm going

to leave that to my geologists, my development geologists, and they're going to make some decisions as to whether we

need – what sort of testing we need and how long that testing need be.

And that also goes, they'll be coming up with a logging program, a coring program, and rest assured the aim is to

understand as accurately as possible the size of this reserve. That's why I'm thinking these wells will take possibly 90

days. We're going to do extensive work on gathering data to make sure we understand Elk-Antelope.

<Q - Chris McDougall>: That sounds good. And just one last, shifting gears to the exploration program. So you

haven't farmed down that ownership on the petroleum prospect and licenses yet, and there was opportunity to do that as

part of the Total agreement. Let's – and a little bit on your thoughts going forward, I mean you have the financial

resources to support the whole program, but then there are some positives to bring in another partner. So, what sort of

timing should we expect on making a decision there or have you already decided to go forward without farming down?

<A - Michael Hession>: Look, our view is this is always an exploration. It's a risk-reward situation. We've got the

luxury. You're quite right that we don't need to farm down, yeah, and that's the luxury that I'm very happy to have in

my pocket. We'll sit down with the geologists, and we'll look at the whole exploration portfolio. We're not going to

rush into this in any way shape or form. We'll understand what the total possible [indiscernible] (34:34) we'll

understand what the positives are of each prospect, and we'll make some decisions at the appropriate time about

farming down or not. But as of today, as you can see, we've not farmed down, and we have no intention to farm down.

<Q - Chris McDougall>: Great. Thank you very much and congratulations.

<A - Michael Hession>: Thank you very much.

Operator

Due to time constraint, that was our last question. I would like to turn the conference call back over to Mr. Andrews

and Mr. Hession. Please go ahead, gentlemen.

Wayne W. Andrews

Michael, any closing remarks?

Michael Hession

Okay. I do, I do. And thank you very much, Wayne, for facilitating this. Well, first of all, thank you for taking time out

of your day to come on to our call. And I'll just sit down one more time and just talk about the three things that we said

we do. We said we stabilize the company. We said we've made sure that we'd run an efficient operation. I believe we're

headed down that road with the right team.

We talked about monetizing Elk-Antelope in the appropriate fashion. But I think today's deal demonstrates we've done

that. And also, the upside, the growth, the platform for growth, we've got a deep exploration portfolio in one of the

gassiest basins in Southeast Asia, surrounding one of the biggest fields discovered in Southeast Asia for 20 years. I

think the future is bright for InterOil, and I'm very pleased to be leading it.

So, with that, Wayne, I pass across to you.

Wayne W. Andrews

Great. And thank you, all, for attending. I'll be available if there are any additional questions throughout the day. And

we look forward to seeing you all in the near future.

Operator

Ladies and gentlemen, that does conclude our conference call for today. On behalf of today's panel, I'd like to thank

you for your participation in today's InterOil call. And thank you for using AT&T. Have a wonderful day. You may

now disconnect

This transcript may not be 100 percent accurate and may contain misspellings and other inaccuracies. This transcript

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