July 18 (Reuters) - Oil Search Ltd OSH.AX :
* Oil Search receives notification from Interoil of superior proposal
* IOC notification of superior proposal OSH.AX
* Interoil has received what the Interoil board has determined constitutes a `superior proposal' from Exxon Mobil Corporation (NYSE:XOM)
* Proposal from ExxonMobil for Interoil comprises a fixed price of US$45 per Interoil share paid in ExxonMobil shares
* Interoil has advised that it intends to make a change in its recommendation and enter into an arrangement agreement with ExxonMobil.
* Says the CRP will be payable in cash at resource certification and will not be transferable or listed on an exchange
* Says Total SA (PA:TOTF) is aware of these developments and Oil search's right to submit a revised offer
* If Oil Search arrangement agreement is terminated, Oil Search is entitled to be paid a US$60 million break fee
* Source text for Eikon ID:nASX927VPz
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