KrisEnergy updates offshore exploration in the Gulf of Thailand

Source:KrisEnergy Ltd.

KrisEnergy updates offshore exploration in the Gulf of Thailand

KrisEnergy Ltd. (“KrisEnergy” or “the “Company”), an independent upstream oil and gas company, provides an update on the Rossukon-3 exploration well in G6/48 in the Gulf of Thailand, which was drilled by the Key Gibraltar jack-up rig following the successful evaluation of the Rossukon-2 and sidetrack wells in March 2015.

Rossukon-3 was drilled to a total depth of 7,497 feet (2,285 metres) measured depth, or -6,235 feet true vertical depth subsea (“TVDSS”). KrisEnergy’s preliminary interpretation of well logs indicates that the well intersected approximately 75 feet true vertical depth (“TVD”) of net oil-bearing sandstones and 49 feet TVD of net gas-bearing sandstones over several reservoir intervals. Water depth at the Rossukon-3 location is 208 feet. The well lies 1.9 km west of the Rossukon-2 surface location and 1.8 km northwest of the original Rossukon-1 discovery well, drilled in 2009.

Rossukon-3 will be plugged back and the G6/48 partners have agreed to immediately begin drilling the Rossukon-3ST sidetrack exploration well. Rossukon-3ST is planned to drill to a total depth of 6,689 feet (2,039 metres) measured depth (-4,500 feet TVDSS) at a maximum deviation of 74 degrees.

Chris Gibson-Robinson, Director Exploration & Production, commented: “The three wells drilled so far in this campaign are promising and will increase the contingent resources in G6/48. Once Rossukon-3ST is completed, we will undertake a thorough technical review incorporating data from all the Rossukon wells, and the existing seismic data, to more fully assess the potential for commercial development in the future.”

G6/48 covers 566 sq. km over the Karawake Basin and lies to the north of the G10/48 licence, where KrisEnergy is developing the Wassana oil field. KrisEnergy took over operatorship of G6/48 in May 2014. The Company holds a 30% working interest in the concession and is partnered by Northern Gulf Petroleum Pte Ltd with 40% and Mubadala Petroleum with 30%.

The Key Gibraltar jack-up rig is owned by Shelf Drilling (Southeast Asia) Limited. KrisEnergy contracted the rig for a firm six months for its Thai drilling program, which includes the latest Rossukon series of wells in G6/48 and 15 development wells in the Wassana oil field.

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