KrisEnergy Successfully Drills Rossukon-2 Well in Gulf of Thailand

KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, provided Tuesday an update on the drilling of the Rossukon-2 exploration well in G6/48 in the Gulf of Thailand, where the Rossukon oil accumulation was discovered in 2009.

Rossukon-2, which is located at a water depth of 210 feet, was drilled to a total depth of 5,460 feet (1,664 meters) measured depth (minus 4,924 feet true vertical depth subsea). Preliminary well logs indicate that the well intersected approximately 69 feet true vertical depth (TVD) of net oil-bearing sandstones and 37 feet TVD of net gas-bearing sandstones, over five reservoir intervals.

The logging program is expected to be completed by March 25 at which point Rossukon-2 will be plugged back and the Rossukon-2ST directional sidetrack well will commence drilling out approximately 0.8 mile (1.3 kilometers) to the northwest.

Chris Gibson-Robinson, director Exploration & Production, commented: “The results from Rossukon-2 provide an encouraging basis to drill a sidetrack well to further define the lateral extent of the hydrocarbon columns and explore for new zones. These wells, together with the original 2009 discovery well, will bring us a step closer to deciding commerciality of the accumulation and the potential development concept.”

G6/48 covers 218.5 square miles (566 square kilometers) over the Karawake Basin and lies to the north of the G10/48 license, where KrisEnergy is developing the Wassana oil field. The Company took over operatorship of G6/48 in May 2014. It holds a 30 percent working interest in the concession and is partnered by Northern Gulf Petroleum Pte Ltd with 40 percent and Mubadala Petroleum with 30 percent.

The Key Gibraltar (300' ILC) jackup 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 Rossukon-2 in G6/48 and 15 development wells in the Wassana oil field.


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