PTTEP to Acquire Thai Shell's E&P Assets

Reference is made to the concession Block S1 which includes the Sirikit oil field, the largest onshore oil filed in Thailand, in which PTT Exploration and Production Public Company Limited (PTTEP) is a joint venture partner with 25% participation interest. Thai Shell Exploration and Production Company Limited (Thai Shell) is the Operator with 75% participation interest in Block S1 and is also the sole concessionaire of Block B6/27 which is located in the Gulf of Thailand. In addition, PTTEP is a joint venture partner with 35% participation interest in petroleum onshore concession Block L22/43 which is under exploration phase. Thai Shell Company Limited is the Operator with 65% participation interest.

PTTEP wishes to inform that the Company is in the process of negotiation to acquire all of Thai Shell's shares and the transfer of petroleum onshore concession Block L22/43 from Thai Shell Company Limited. The Company is expected to reach a conclusion in the near future and will advise the Stock Exchange of Thailand as soon as possible.

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