KrisEnergy begins drilling new sidetrack well in G6/48 block

KrisEnergy Ltd.

KrisEnergy Ltd. (“KrisEnergy” or “the “Company”), an independent upstream oil and gas company, announces that the Key Gibraltar jack-up rig has commenced drilling of the Rossukon-3ST sidetrack exploration well in G6/48 in the Gulf of Thailand. Rossukon-3ST is the fourth well to be drilled in the G6/48 contract area in 2015 following successful results for the Rossukon-2, Rossukon-2ST and Rossukon-3 wells in March and early April.

Rossukon-3ST will be drilled from the Rossukon-3 surface location and is planned to reach a total depth at 6,689 feet (2,039 metres) measured depth (-4,500 feet true vertical depth subsea) with a maximum deviation of 74 degrees. Water depth at the Rossukon-3 well location is 208 feet.

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 has 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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