Status quo indirect minority stakes

[Relker]

The status quo of the present situation is not clear to me. Questions:

1. There are different groups. Who are these groups?

2.  Which rights have the groups under 1?

3. When do the stakeholders get a cash call?

4. How does the 6 months option work out?

5. Which stakeholders can be bought out by IOC?

[trans]

The status quo of the present situation is not clear to me. Questions:

1. There are different groups. Who are these groups?

2.  Which rights have the groups under 1?

3. When do the stakeholders get a cash call?

4. How does the 6 months option work out?

5. Which stakeholders can be bought out by IOC?

annual report  pages 102-105 should do it....trans

[Relker]

The status quo of the present situation is not clear to me. Questions:

1. There are different groups. Who are these groups?

2.  Which rights have the groups under 1?

3. When do the stakeholders get a cash call?

4. How does the 6 months option work out?

5. Which stakeholders can be bought out by IOC?

annual report  pages 102-105 should do it....trans

May be you can find the stakes, see enclosure, but not the rest of my questions.

[Relker]

The status quo of the present situation is not clear to me. Questions:

1. There are different groups. Who are these groups?

2.  Which rights have the groups under 1?

3. When do the stakeholders get a cash call?

4. How does the 6 months option work out?

5. Which stakeholders can be bought out by IOC?

annual report  pages 102-105 should do it....trans

May be you can find the stakes, see enclosure, but not the rest of my questions.

From a financial point of view the IPI group represents bottom line 11,73% and the PNGDV group 5,23%. Only the last group can extend the number of exploration wells. The first group has the right to participate in 8 wells. I assume the following 4 wells were already choosen: Elk1; Elk2; Elk4 and Tricerops 2 as the annual report mentioned that 4 exploration wells were choosen ult 2013. Furthermore, Raptor is automatically an exploration well as it belonged to block 237 which includes Tricerops 2 and the first cash call is made. It is not clear to me if the IPI shareholders opted for Bobcat and Wahoo. What will happen with the exploration well Antelop deep? Strictly speaking Oilsearch has become the new owner of this block. Will this reduce the rights of the IPI holders to 7.

[Relker]

It is needless to say that I would expect a drilling update. According to the latest planning IOC would be ready with Bobcat and Raptor. Furthermore, I would like to have an update regarding the status quo of the minority stakeholders. Because any movement in these rights represent a material event, IOC is obliged to give an update according to the Sox-rules.

[jft310]

I expect an update of some kind

[jft310]

Exploration Drilling Update

Singapore and Port Moresby, September 30, 2014: InterOil Corporation (NYSE,

POMSoX: IOC) today provided an update on its current exploration drilling program.

RAPTOR-1, PPL 475

InterOil is preparing to set seven-inch casing in the Raptor-1 well in PPL 475 in the Gulf

Province of Papua New Guinea. The casing point is slightly above the Kapau Limestone

target zone, and is in line with the well program.

At this stage, calcimetry, temperature and background hydrocarbon concentrations are

similar to those experienced before InterOil entered the Antelope reservoir. The significance

of these preliminary indications can be determined only by further drilling and logging.

Raptor-1 is about 12km west of InterOil’s multi-trillion cubic feet Elk-Antelope gas field.

InterOil holds a 65.208174% interest in Raptor-1 and is operator. Pacific Rubiales Energy

Corp. (TSXRE; BVCREC; BOVESPAREB) has a 12.903226% interest in the well and

minority interests hold 21.8886%.

BOBCAT-1, PPL 476

The Bobcat-1 well in PPL 476 in Papua New Guinea continues to drill in the Orubadi shale,

towards the Kapau Limestone target zone.

Bobcat-1 is about 30 km northwest of InterOil’s multi-trillion cubic feet Elk-Antelope gas field.

InterOil holds a 78.1114% interest in the well and is operator. The remaining 21.8886%

interest in the well is held by minority parties.

InterOil will keep the market informed of material developments.