INTL PETR ADR : Lapse of Options

NSX Announcement
27 June 2013

ABN: 76 118 108 615

Corporate Office

32 Harrogate Street

West Leederville, WA 6007

P.O. Box 1385

West Leederville, WA 6901

T [phone]

F [phone]

E [e-mail]
W www.internationalpetroleum.com.au

Lapse of Options

International Petroleum Limited (NSX:IOP) (International Petroleum or the Company) advises that
1,500,000 unlisted options, exercisable at A$0.25 per option on or before 15 April 2016, have lapsed as a result of the holder ceasing to be employed with the Company.
Following this lapse, the Company has 41,200,000 unlisted options to purchase ordinary shares in the
Company, at exercise prices varying between A$0.25 and A$0.65, in issue. Yours faithfully
Tony Sage

Non-Executive Chairman

27 June 2013 - 2 -

For further information, please contact:

Tony Sage Non-Executive Chairman International Petroleum Limited Ph: [phone]	Chris Hopkinson Chief Executive Officer International Petroleum Limited Ph: [phone]	Claire Tolcon Company Secretary International Petroleum Limited Ph: [phone]
David Tasker Professional Public Relations Ph: [phone]/ [phone] Em: [e-mail]	Eloise von Puttkammer Investor Relations International Petroleum Limited Ph: [phone]

About International Petroleum

International Petroleum is an oil and gas exploration and production company. The Company is listed on the National Stock Exchange of Australia (NSX: IOP).
The Company owns:
1. a 100% equity interest in a licence over the Zapadno-Novomolodezhny field for geological study of subsoil, prospecting and extraction of oil and gas in the Khanty-Mansiysk Autonomous Region in Western Siberia, the largest oil-producing region of Russia (the "Zapadno-Novomolodezhny Project").
2. a 100% equity interest in a licence over the Yuzhno-Sardakovsky field for geological study of subsoil, prospecting and extraction of oil and gas in the Khanty-Mansiysk Autonomous Region in Western Siberia (the "Yuzhno-Sardakovsky Project").
3. a 100% equity interest in a licence over the Yanchinsky block for geological study of subsoil and prospecting for oil and gas in the Khanty-Mansiysk Autonomous Region in Western Siberia (the "Yanchinsky Project").
4. a 75% equity interest in two production licences for the Vostochno-Kamskoye oilfield and the Yanlotskoye oilfield, covering a total area of 161 km², and in the exploration rights to four blocks, covering a total area of 1,467 km², located in the Khanty-Mansiysk Autonomous Region in Western Siberia (the "Krasnoleninsky Project").
5. a 75% equity interest in an exploration licence in the Tomsk region of Western Siberia (the "Tomsk

Exploration Licence" or the "Druzhny Project").

6. a 50% interest in an early stage project covering 24,649 km2 in eastern Kazakhstan (the "Alakol

Project"), which borders the western boundary of the People's Republic of China.

7. a 100% interest in four production sharing contracts and four Exclusive Exploration Authorisations relating to four blocks in the Republic of Niger known as Manga 1, Manga 2, Aborak and Ténéré Ouest (the "Niger Project").
Whilst the Company is focused on exploration at its existing projects in Russia, Kazakhstan and Niger, it continues to review other companies and areas, such as Russia and Africa, for opportunities to acquire additional exploration and/or production projects.