03-31-2014, 11:48 PM
Encouraging note in financials about OSH Dispute filed:
"Oil Search dispute under PRL 15 joint venture operating agreement:
Subsequent to year end, on March 27, 2014 the Company received notification from Oil Search of a dispute under the
Joint Venture Operating Agreement relating to Petroleum Retention License 15 in Papua New Guinea. InterOil will be
responding in accordance with the terms of that agreement. Any proceedings commenced by Oil Search seeking to set
aside the transaction completed with Total on March 26, 2014, in which Total acquired a 40.1% (gross) interest in PRL 15,
will be strongly defended. The Company does not believe any action will be successful, and based on strong legal advice
received; the Company does not expect this dispute to have any material financial effect."
"Our attorneys are better than your attorneys"
"Oil Search dispute under PRL 15 joint venture operating agreement:
Subsequent to year end, on March 27, 2014 the Company received notification from Oil Search of a dispute under the
Joint Venture Operating Agreement relating to Petroleum Retention License 15 in Papua New Guinea. InterOil will be
responding in accordance with the terms of that agreement. Any proceedings commenced by Oil Search seeking to set
aside the transaction completed with Total on March 26, 2014, in which Total acquired a 40.1% (gross) interest in PRL 15,
will be strongly defended. The Company does not believe any action will be successful, and based on strong legal advice
received; the Company does not expect this dispute to have any material financial effect."
"Our attorneys are better than your attorneys"