INTEROIL ENTERS SHORT TERM $25 MILLION SECURED CREDIT FACILITY
Cairns, Australia and Houston, TX -- August 11, 2010 -- InterOil Corporation (NYSE: IOC) (POMSoX:
IOC) today announced that it has closed on a $25 million secured term loan bearing a 10% interest rate with
Clarion Finanz AG . The term loan facility matures on January 31, 2011 and will be used for upstream
development and general corporate purposes. InterOil has agreed to pledge to Clarion Finanz a 2.5% interest in
the Elk and Antelope fields as collateral for the facility.
Collin Visaggio, Chief Financial Officer of InterOil, commented, “We are pleased to have obtained this facility
from Clarion Finanz. It allows us to maintain financial flexibility while seeking potential industry investors in the
Elk and Antelope fields . InterOil intends to use the proceeds from the facility to further develop the Elk and
Antelope fields in advance of the proposed development of the longer term condensate stripping and liquefied
natural gas projects.”
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 an LNG
plant on a site adjacent to InterOil ’s refinery in Port Moresby, Papua New Guinea.
InterOil’s common shares trade on the NYSE in US dollars.
Investor Contact for InterOil:
Wayne Andrews, V. P. Capital Markets
The Woodlands, TX USA
InterOil News Release
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