InterOil Corporation is an independent oil and gas business with a focus on Papua New Guinea. The Company’s assets include an interest in one of Asia’s undeveloped gas fields, Elk-Antelope, in the Gulf Province, exploration licenses covering approximately 4 million acres, Papua New Guinea’s oil refinery, and retail and commercial petroleum distribution facilities throughout the country. Its business activities in exploration, refining and distribution provide fuel for the nation and generate millions of dollars in revenue for the Government. The area is divided into four Petroleum Prospecting Licenses (PPLs) and two Petroleum Retention Licenses. The Company holds the PPLs for six years, from March 2014. As of August 13, 2012, the Company announced confirmation of gas and an increased condensate ratio in 131 feet of pay in the lower of two reservoir intervals based on cased hole testing in the Triceratops-2 well.