KrisEnergy Starts Drilling Rayrai-1 in the Gulf of Thailand

Southeast Asia-focused KrisEnergy reported Friday that it has begun drilling the Rayrai-1 exploration well on block G10/48 in the Gulf of Thailand, where the company is currently developing the Wassana oilfield.

Rayrai-1 is located in water depths of 170 feet and lies about 1.5 miles north of the NIramai oil discovery, which was drilled in 2009. The well has been planned to reach a total depth of 6,382 feet measured depth and will test Early Miocene stacked fluvial sandstones on a north-south trending faulted basement high.

The well is being drilled with the Key Gibraltar rig, which will then begin drilling up to 15 Wassana development wells once it has completed Rayrai-1. Production at Wassana is expected to begin during the second half of 2015 and plateau at 10,000 barrels of oil per day.

KrisEnergy holds an 89-percent working interest in, and is operator of, the G10/48 license.



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