INTEROIL CP
			Symbol			IOC

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InterOil Announces Third Quarter 2009 Financial Results

2009-11-04 18:25 ET - News Release

HOUSTON, TEXAS AND CAIRNS, AUSTRALIA -- (MARKET WIRE) -- 11/04/09

InterOil Corporation (NYSE: IOC) (POMSoX: IOC) announces financial results for the third quarter ending September 30, 2009. For the quarter, InterOil reported net income of $7.9 million ($0.18 per share), $1.3 million less than the same quarter in the prior year. Earnings before Interest, Taxes, Depreciation and Amortization (1) ("EBITDA") for the quarter totalled $14.6 million, a reduction of $2.2 million over 2008 third quarter EBITDA of $16.8 million. Third quarter 2009 results include a $4.6 million gain on sale of oil and gas properties.

Business Segment Results

During the quarter, the Midstream Refining business generated a net profit of $3.8 million, compared with a net profit $12.7 million for the same quarter in 2008. Throughput averaged 19,657 barrels per day in the second quarter of 2009 versus 22,463 in the comparable period a year ago. Throughput per day has been calculated excluding days the refinery was not in operation. Premium margin distillates were 60% of production in the current quarter, up from 55% in the same period a year ago. Refining EBITDA in the quarter totalled $8.2 million, down from $17.5 million in the previous year which included a $11.4 million derivative gain.

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