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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area
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To: Crossy who wrote (24351)10/20/2006 7:11:17 AM
From: Crossy  Read Replies (3) of 37387
 
re: IOX.OL - 75m NET oil column in new well in Peru !!

Looks like IOX.OL has the opportunity to become another LatAm highflyer.. on the tracks of PDP.TO..

newsweb.no

October 20th 2006, -Oslo, Norway - InterOil
Exploration & Production (`InterOil`) today
announced the starting of a 10 well drilling
campaign on its Blocks III and IV in Peru. The
first well commenced drilling October 8th and
drilled to a total depth of 955m. The well was a
success and encountered a 75m net oil column in
sandstones of Eocene age. The well will be put
in production during November this year. The
remaining 9 wells will be drilled back to back
and are expected to be completed by mid January
2006.

This was the first well drilled in the blocks
since April 2006. InterOil has in the last 5
month analyzed both the new seismic 3D data and
well information of the fields further to get a
better understanding of the subsurface in order
to optimize the position of the new infill
production and exploration wells.

The drilling of the second well have already
started and will be completed in the beginning
of November.

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

InterOil Exploration & Production ASA is an
international independent petroleum company with
headquarter in Oslo. The company is engaged in
the acquisition, exploration, development and
operation of oil and natural gas properties.
InterOil E&P serves as operator or active
license partner in several production and
exploration assets in Peru, Colombia and Angola.

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
Web: www.interoil.no
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