The company said most of its shareholders were in North America and trade on the two Australasian was now only 1% of InterOil’s trading volume.

“In the best interests of our shareholders and the future growth of our company we believe that our efforts should be concentrated where most of our shareholders are now based, namely the North American market,” said a company statement last week.

It said delisting conditions would be communicated to shareholders once it had been advised by the exchanges.

“We would like to thank the Australian Stock Exchange and POMSoX for their support over the past five years. In the early years, these exchanges provided our shareholders with the only venues to invest in our company”, said Phil Mulacek, CEO and chairman.