From the Chief Executive Officer

New Chairman, New InterOil

The appointment of Chris Finlayson as our new Chairman is a sign of InterOil’s growing maturity and another important step in our transformation into a world-class energy exploration and production company. Chris brings almost 40 years of corporate, global LNG and project experience, including his most recent roles as chief executive and director of the large British public company, BG Group, and many years as a senior executive with Royal Dutch Shell.

We are delighted and proud that he has joined us and look forward to tapping his wisdom and experience. His arrival is an opportune moment to reflect on our recent progress and our immediate plans. InterOil is stronger, leaner, and more focused than we were even six months ago.

We have strengthened our balance sheet with the sale of our refinery and downstream businesses, we are now focused on exploring our premium license area and developing our premium resource, Elk-Antelope. Our drilling program, the biggest in Papua New Guinea, is fully funded, and we are about to appraise Elk-Antelope, one of Asia’s biggest undeveloped gas fields, with our joint venturers, Total and Oil Search.

This is the opportunity that awaits Chris and, of course, our shareholders and the people of Papua New Guinea.

Dr. Michael Hession