InterOil Corporation
TSX : IOL
AMEX : IOC

InterOil Corporation

March 30, 2006 09:00 ET

InterOil Announces Investor Conference Call to be Held on April 3, 2006

TORONTO, ONTARIO--(CCNMatthews - March 30, 2006) - InterOil Corporation (TSX:IOL)(AMEX:IOC)(POMSoX:IOC), a Canadian company with operations in Papua New Guinea today announced that it plans to hold a conference call on Monday, April 3, 2006 at 08:15 a.m. Eastern to review its financial and operational results for the year ended December 31, 2005. InterOil plans to release its financial results after the market closes on March 31, 2006.

The conference call phone number is (888) 428-4478 for U.S. callers and (612) 234-9960 for international callers. You may listen to the conference by using the following link http://mail.interoil.com/conference/index1.htm followed by clicking on one of the links as indicated. Alternatively, you may visit our website where a direct link to the conference call has been provided.

InterOil is developing a vertically integrated energy company whose primary focus is Papua New Guinea and the surrounding region. Its assets comprise an oil refinery, upstream petroleum exploration licenses, and retail and commercial distribution assets. The majority of the refined products from InterOil's refinery are secured by off-take contracts with Shell and InterOil's wholly-owned subsidiary, InterOil Products Limited. BP Singapore is InterOil's agent for crude oil supplied to the refinery. InterOil is also undertaking an extensive petroleum exploration program within its eight million acre license area located in Papua New Guinea.

InterOil's common shares trade on the Toronto Stock Exchange under the symbol IOL in Canadian dollar and on the American Stock Exchange under the symbol IOC in US dollars.

Cautionary Statements

This press release contains forward-looking statements as defined in U.S. federal and Canadian securities laws. All statements, other than statements of historical facts, included in this release are forward-looking statements. Forward-looking statements include, without limitation, statements regarding plans for expanding our business segments, business strategy, plans and objectives for future operations, future capital and other expenditures, and those statements preceded by, followed by or that otherwise include the words "may," "plans'" "believe," "expects," "anticipates," "intends," "estimates" or similar expressions or variations on such expressions. Each forward-looking statement reflects our current view of future events and is subject to risks, uncertainties and other factors that could cause our actual results to differ materially from any results expressed or implied by our forward-looking statements. These risks and uncertainties include, but are not limited to, delays and changes in plans with respect to capital expenditures; political, legal and economic risks related to Papua New Guinea; the impact of competition; the volatility of prices for crude oil; the uncertainty of our ability to attract capital; and the risks described under the heading "Risk Factors" in our 2004 Annual Information Form dated March 31, 2005.

Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of the assumptions could be inaccurate, and, therefore, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in our forward-looking statements, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. Except as may be required by applicable law, we undertake no obligation to publicly update or advise of any change in any forward-looking statement, whether as a result of new information, future events or otherwise. Our forward-looking statements are expressly qualified in their entirety by this cautionary statement.

We currently have no reserves as defined in Canadian National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. All information contained herein regarding resources are references to undiscovered resources under Canadian National Instrument 51-101, whether stated or not.

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