KrisEnergy Commcences 2D Seismic Survey at Udan Emas PSC in West Papua

Singapore-based KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, announced Wednesday that a 186 mile (300 kilometer) 2D seismic acquisition program has commenced recording in the Udan Emas production sharing contract (PSC) onshore West Papua, Indonesia.

The data acquisition program, which was awarded to PT. Quest Geophysical Asia, forms part of the work obligations under the PSC. The program is expected to last four months. The Company also plans to undertake airborne gravity and magnetic surveys in the block, which covers 2,085 square miles (5,400 square kilometers) over the Bintuni Basin, a proven prolific gas province containing several multiple-trillion-cubic-feet gas discoveries.

Chris Gibson-Robinson, director Exploration & Production commented: “We have been working with the local communities in the area to explain our activities and respond to any concerns for more than 18 months before seismic recording began and we will continue to do so as the survey progresses. This is a complex land and transition zone program in an extremely remote location encompassing rugged jungle-covered terrain and shallow waters in prime fishing territory. Once processed and interpreted, this data will allow us to further evaluate the potential of previously identified leads.”

KrisEnergy holds a 100 percent working interest and operatorship of the Udan Emas PSC.


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