Report for the second half and the twelve months of 2025
Oslo, 27 February 2026
Highlights in the quarter
Interoil’s Total operated production for the six-month period amounted to 312,937 barrels of oil equivalent (boe), representing a decline from 346,001 boe recorded in the same period of 2024. Operations in Argentina were negatively affected by winter conditions that damaged surface oil lines, while failures in power generation and compression equipment further compounded the impact. Despite lower production volumes, the effect on revenues was mitigated by higher gas prices in Argentina, resulting in total revenue of USD 9.9 million, compared to USD 6.1 million in the prior-year period.
On 4 September 2025, Petrominera S.E. notified the termination of the joint venture agreement relating to the Mata Magallanes Oeste and Cañadón Ramírez areas in the Province of Chubut, Argentina, alleging breaches by the private parties. The Company, while it still held the Argentine assets, was evaluating its legal position and considering appropriate actions to defend and preserve its contractual rights.
On 23 December 2025, bondholders approved and passed a written resolution amending the terms of the Company’s senior secured callable bonds (ISIN NO 001 0729908), including payment-in-kind of the 31 January 2026 interest, extension of maturity to 31 January 2027, temporary waiver and amendments to financial reporting requirements, and consent to dispose of certain Argentine assets, as part of the Company’s ongoing capital structure and liquidity management process.
Subsequent Events
On 9 February 2025, the Company completed its strategic exit from its conventional operations in Argentina, divesting its interests in the Santa Cruz Sur joint operations and the La Brea Block, as well as related rights in MMO and CR, to an Argentine investor for consideration of up to USD 1.0 million in contingent payments, plus an 80% overriding royalty interest on profits above specified production thresholds (see Note 3).
Full report attached.
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About Interoil
Exploration and Production ASA Interoil Exploration and Production ASA is a Norwegian-based independent oil and gas exploration and production company listed on the Oslo Stock Exchange under the ticker IOX. The Company has operated in Latin America for over two decades, applying strong technical capabilities and a disciplined approach to value creation and sustainability. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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