InterOil Reports Net Profit of $15.6 Million for Quarter Ended June 30, 2008

TORONTO, ONTARIO, August 13 / MARKET WIRE/ -- InterOil Corporation (TSX: IOL) (AMEX: IOC) (POMSoX:IOC), a Canadian company with operations in Papua New Guinea, today reported its second quarter 2008 financial results. Highlights: - InterOil consolidated second quarter Earnings before Interest Taxes, Depreciation and Amortization (EBITDA), a non-GAAP measure, was a record $27.4(1) million and Net profit after tax was a record $15.6 million. - On May 1, 2008 InterOil discovered a second major gas and condensate field whilst drilling Elk-4A. - On May 5, converted $60.0 million of the expiring $130.0 million secured bridging facility into common shares, with the balance of $70.0 million repaid on May 12, 2008 with funds raised from the issuance of $95.0 million worth of 8% subordinated convertible debentures and, - On June 1,... [read full story]