Government Approves Change in Equity Stakes in Blocks 105, 120 Off Vietnam
KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company based in Singapore, referred Monday to its announcements released April 15, 2014 and Aug. 12, 2014, both titled Vietnam Block 105 and Block 120 – Partner Update (the Announcements). Unless otherwise defined, capitalized terms used herein shall have the same meaning ascribed to them as in the Announcements.
Pursuant to the deed executed between Eni Vietnam, KrisEnergy 105, KrisEnergy 120 and Neon Energy in relation to the default and subsequent withdrawal of Neon Energy, an amended investment certificate each for Block 105 and Block 120 has been issued by the Ministry of Industry and Trade of Vietnam Feb. 13.
The amended investment certificate for Block 105 reflects the revised working interest holding of 66.67 percent by Eni Vietnam and 33.33 percent by KrisEnergy and the amended investment certificate for Block 120 reflects the revised working interest holding of 66.67 percent by Eni Vietnam and 33.33 percent by KrisEnergy.
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