This announcement is made further to the Company's announcement on July 30, 2012 that it had executed a Farm-In Agreement with PRE.
Signing of the JVOA and related documentation accomplishes one of the key milestones to final completion of the Farm-In transaction, which remains subject to previously announced closing conditions and approvals.
"InterOil and its partners are pleased to have completed the JVOA with Pacific Rubiales Energy. The process has enhanced our working relationship and commitment to a mutually beneficial joint venture," stated Mr. Phil Mulacek, Chief Executive Officer of InterOil.
About InterOil InterOil Corporation is developing a vertically integrated energy business whose primary focus is Papua New Guinea and the surrounding region. InterOil's assets consist of petroleum licenses covering about 3.9 million acres, an oil refinery, and retail and commercial distribution facilities, all located in Papua New Guinea. In addition, InterOil is a shareholder in a joint venture established to construct liquefaction facilities in Papua New Guinea.
InterOil's common shares trade on the NYSE in US dollars.