KrisEnergy Finds Oil, Gas at Rossukon-3ST Well in the Gulf of Thailand

KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, provided Friday an update on the Rossukon-3ST sidetrack exploration well in G6/48 in the Gulf of Thailand, which was drilled by the jackup Key Gibraltar (300' ILC) and is the last of four wells in the 2015 drilling campaign in the contract area.

Rossukon-3ST, drilled from the same surface location as the Rossukon-3 exploration well, reached a total depth of 6,645 feet (2,025 meters) measured depth, or minus 4,500 feet true vertical depth subsea. KrisEnergy’s preliminary interpretation of well logs indicates that the well intersected approximately 85 feet true vertical depth (TVD) of net oil-bearing sandstones and 63 feet TVD of net gas-bearing sandstones over several reservoir intervals. Water depth at the Rossukon-3 location is 208 feet. The Rossukon-3 location is 1.2 miles (1.9 kilometers) west of the Rossukon-2 surface location and 1. miles (1.8 kilometers) northwest of the original Rossukon-1 discovery well, drilled in 2009.

Chris Gibson-Robinson, director Exploration & Production, commented: “This final sidetrack completes our exploration drilling program in G6/48 for this year. All four wells have encountered oil and gas and have provided a great amount of information, which will be incorporated in our geological model and reviewed in the coming months as we assess a development plan.”

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. KrisEnergy took over operatorship of G6/48 in May 2014. The Company 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 jackup is owned by Shelf Drilling (Southeast Asia) Limited. The rig will now move to G10/48 in the Gulf of Thailand, where it will drill the Rayrai-1 exploration well followed by 15 development wells in the Wassana oil development.


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