Key Developments: Interoil Exploration and Production ASA (IOX.OL)

IOX.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

InterOil Exploration and Production appoints Leif Christian Salomonsen as new Chairman of the Board
Monday, 30 Jun 2014 10:09am EDT 

InterOil Exploration and Production ASA:Appoints Leif Christian Salomonsen as the new Chairman of the company's Board of Directors.  Full Article

InterOil Exploration and Production will pay no dividend for FY 2013
Wednesday, 30 Apr 2014 01:30am EDT 

InterOil Exploration and Production ASA:Says will due to the equity situation and FY 2013 financial results not pay any dividend in the near future.Paid no dividend for FY 2012.  Full Article

InterOil Exploration and Production announces 12 month license contract in Peru and bank loan in Colombia
Monday, 7 Apr 2014 01:30am EDT 

InterOil Exploration and Production ASA:Says Interoil Peru SA has secured a 12-month license contract for blocks III and IV with Perupetro.Contract's commercial terms are identical to the original license contracts.Expects bid round for a 30 year license contract for Blocks III and IV to be completed before expiry of the contract on April 5, 2015.Says Interoil Peru SA will participate in the bid round.Perupetro will select the new operator based on proposed investment program and royalty rate.Says Interoil Colombia Exploration & Production Inc (BVI) has entered into a secured bank loan facility with Banco Colpatia, for $15 million.Says the loan carries an interest rate of LIBOR + 4.5 percent with maturity in Feb. 2016.  Full Article

InterOil Exploration and Production announces loss in arbitration case
Tuesday, 1 Apr 2014 06:21am EDT 

InterOil Exploration and Production ASA:Says an ICC arbitral tribunal has ruled against Interoil Peru SA (Interoil Peru) in the case between Interoil Peru SA and Perupetro.Expects to continue operating blocks III and IV under a 12-month license contract and aims to participate in the coming bid round for the same blocks.Admits the company is surprised and disappointed with the arbitration ruling.  Full Article

InterOil Exploration and Production successfully appeals OEFA fine for Peruvian unit
Thursday, 27 Mar 2014 03:01am EDT 

InterOil Exploration and Production ASA:Says it appealed the $ 1.8 million fine imposed by the Agency of Environmental Supervision and Control in Peru (OEFA) on Interoil Peru SA due to the drilling of four wells outside the locations approved by the Agency.Says was notified by the OEFA Tribunal that the fine has been reversed, as it recognized that Interoil, by moving the well locations, actually reduced the environmental impact.The fine was not paid as it was appealed , so the resolution will have no cash impact, but the provision made in the second quarter of 2013 of $ 1,8 million will be reversed in the first quarter.  Full Article

InterOil Exploration and Production ASA to Negotiate License Extensions
Wednesday, 16 Oct 2013 11:50am EDT 

InterOil Exploration and Production ASA announced that it its efforts to obtain a license extension for Blocks III and IV in the Talara Basin in northwest Peru. During an industry luncheon on October 15, 2013 in Lima, Peru, Luis Ortigas, President of the Perupetro Board of Directors, announced that the Perupetro board has resolved to initiate a process towards extending certain oil and gas production licenses in the Talara Basin. Interoil's Blocks III and IV are among these licenses. A final decision to extend the licenses is subject to final negotiations and approval by the competent Peruvian governmental bodies. The process of awarding the extensions is expected to begin shortly and will entail negotiation between the operators of each block and Perupetro on the terms of the extensions, including a specific work program for each of the licenses. Extensions could also be made contingent on participation by Petroperu, Peru's National Oil Company. For Interoil, these negotiations will also entail finding a solution to the ongoing arbitration case against Perupetro, to which Interoil will propose to Perupetro that the arbitration case is put on hold during the negotiations for the extension and terminated upon the entering into of a new license agreement.  Full Article

OEFA in Peru to Impose Fine on InterOil Exploration and Production ASA's Interoil Peru S.A.
Friday, 7 Jun 2013 03:06am EDT 

InterOil Exploration and Production ASA announced that the Agency of the Environmental Supervision and Control in Peru (OEFA) conducted an administrative investigation procedure against Interoil Peru S.A. due to the drilling of four wells outside the locations approved by the Agency. On June 7, 2013, the Agency notified Interoil Peru S.A. that it would impose a fine of approximately USD 1.8 million. Interoil is currently studying the resolution and assessing its alternatives.  Full Article

Trafalgar AS Acquires Stake in InterOil Exploration and Production ASA
Wednesday, 8 May 2013 11:16am EDT 

InterOil Exploration and Production ASA announced that Trafalgar AS, a company controlled by Kristen Jakobsen, purchased on May 8, 2013 a total of 11,147,816 shares in Interoil Exploration and Production ASA (IOX). Trafalgar AS owns after this acquisition a total of 21,147,816 shares in IOX, constituting of 8.4% of the share capital in IOX. The percentage has been calculated based on 251,903,145 issued shares in IOX.  Full Article

InterOil Exploration and Production ASA Not To Pay Dividend For FY 2012
Friday, 26 Apr 2013 02:30am EDT 

InterOil Exploration and Production ASA announced that due to the equity situation and the financial result of the fiscal year 2012 Interoil is not to pay any dividend in the near future.  Full Article

InterOil Exploration and Production ASA Announces Completion of Subsequent Offering
Wednesday, 10 Apr 2013 02:31am EDT 

InterOil Exploration and Production ASA announced, with reference to the announcement dated March 25, 2013 concerning the subsequent offering of up to 7,882,500 shares in the Company at a subscription price of NOK 1.00 per share, that the subscription period in the subsequent offering ended on April 9, 2013. As a result of the subsequent offering, the Company will issue 4,138,145 offer shares at NOK 1.00 per share raising gross proceeds of NOK 4,138,145. All subscribers being allotted offer shares will receive a letter confirming the number of offer shares allotted to the subscriber and the corresponding amount to be paid. This letter is expected to be distributed on or about April 10, 2013. Payment for the offer shares will fall due on April 15, 2013 and delivery will take place on or about April 17, 2013. Following registration of the issue of offer shares the total number of issued shares in the Company will increase by 4,138,145 shares, from 247,765,000 shares to 251,903,145 shares. It is expected that the share capital increase will be registered in the Norwegian Register of Business Enterprises on or about April 17, 2013 and that the offer shares will immediately thereafter be admitted to trading on Oslo Bors. The Manager of the Subsequent Offering is Pareto Securities AS.  Full Article

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