Report for the third quarter of 2023
29 Noviembre 2023 - 9:45AM
Report for the third quarter of 2023
Oslo, 29 November 2023
Highlights in the period
Interoil’s net production in the first nine months of 2023 was
178,340 barrels of oil equivalents (boe), down from 223,342 boe in
the same period in 2022.
Revenues were USD 16.4 million compared with USD 15.7 million in
the corresponding period the previous year. The increase is due to
increased share in Argentina’s operations.
EBITDA in the first nine months of 2023 was USD 2.4 million,
compared with USD 5.2 million in the same period of 2022.
In November a new President was elected in Argentina, who will
take charge on December 10. Mr. Milei has publicly announced a
number of measures that should have a positive impact in the
Company’s business, including decrease of existing gap between the
official exchange rate and the actual exchange rate between the
Argentine peso and the US dollar, deregulation of O&G prices
and other measures which would create a better business
environment.
By virtue of requests filed by Interoil Colombia to the
Colombian hydrocarbons regulatory agency (ANH), the terms
applicable to Interoil’s drilling obligations in Llanos-47 and
Altair have been postponed at least through October 2024 and July
2024, respectively. While no assurance can be given, postponement
should continue beyond such dates as long as there are underlying
reasons causing force majeure.
For more information, please see enclosed Interoil Exploration
and Production ASA's Report for the third quarter of 2023.
This information is subject to the disclosure requirements
pursuant to section 5 -12 of the Norwegian Securities Trading
Act.
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Please direct any further questions to ir@interoil.no
(mailto:ir@interoil.no)
About InteroilInteroil Exploration and 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 and license holder of several production and exploration
assets in Colombia and Argentina with headquarter in Oslo.
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