KrisEnergy Finds Thailand's Rossukon-2ST Well Drilling Results Encouraging

KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, provided Monday an update on the drilling of the Rossukon-2ST sidetrack exploration well in G6/48 in the Gulf of Thailand, which was drilled following the announcement March 24 of the Rossukon-2 oil and gas discovery.

Rossukon-2ST was drilled to a total depth of 7,270 feet (2,216 meters) measured depth (minus 5,263 feet true vertical depth subsea) at a deviation of 57 degrees. KrisEnergy’s interpretation of preliminary well logs indicates that the well intersected approximately 40 feet true vertical depth (TVD) of net oil-bearing sandstones and 100 feet TVD of net gas-bearing sandstones, over several reservoir intervals.

Chris Gibson-Robinson, director Exploration & Production, commented: “The Rossukon-2ST exploration sidetrack has encountered the highest net pay of the three discovery wells drilled so far within the Rossukon area and also extends the area over which hydrocarbon bearing reservoirs are present some 1.1 miles (1.8 kilometers) northwest of the original 2009 Rossukon-1 discovery well. The results are encouraging and we are in discussion with our partners about the next steps to fully determine hydrocarbon volumes in the Rossukon area.”

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, which drilled the Rossukon-2ST well, 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 Rossukon series of wells in G6/48 and 15 development wells in the Wassana oil field.


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