From the Wires
InterOil Executes Joint Venture Operating Agreement With Pacific Rubiales Energy for Triceratops and PPL 237
By: PR Newswire
Nov. 29, 2012 08:11 AM
PORT MORESBY, Papua New Guinea and HOUSTON, Nov. 29, 2012 /PRNewswire/ -- InterOil Corporation (NYSE:IOC) (POMSoX:IOC) ("InterOil" or the "Company") announced that negotiations have been completed and the parties have executed the Joint Venture Operating Agreement (JVOA) and related documents associated with its Farm-In Agreement with Pacific Rubiales Energy Corp. (TSX:PRE; BVC: PREC; BOVESPA: PREB) ("PRE"), pursuant to which PRE will acquire a 10.0% net (12.9% gross) participating interest in Petroleum Prospecting License 237 ("PPL 237") onshore Papua New Guinea, including the Triceratops structure and exploration acreage located within that license. 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.
InterOil's common shares trade on the NYSE in US dollars.
United StatesDecember 31, 2011December 31, 2011
Investors are urged to consider closely the disclosure in the Company's Form 40-F, available from us at www.interoil.com or from the SEC at www.sec.gov and its Annual Information Form available on SEDAR at www.sedar.com.
SOURCE InterOil Corporation
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