It is shown that the H$alpha$ luminosity and the Thomson optical depth of the iPTF14hls on day 600 after the detection provide us with the estimate of the envelope age which turns to be about 1000 days. I propose a model that suggests an explosion of a massive star with the radius of $sim 2times10^{13}$ cm at 450 days prior to the discovery. For the optimal model the ejected mass is $30,M_{odot}$, and the kinetic energy is $8times10^{51}$ erg. The energy source at the dominant luminosity stage is presumably related to the relativistic bipolar outflow originated from a disk accretion onto the black hole. The [O,I] 6300, 6364 AA doublet in the spectrum on day 600 is shown to be the result of the emission of at least $1-3,M_{odot}$ of oxygen in the ejecta inner zone. The oxygen distribution is non-spherical and can be represented either by two components with blue and red shifts (in the optically thin case), or by one blue shifted component, in the case of optically thick lines for the filling factor of $sim 2times10^{-3}$.
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