Singapore, 5 December 2013 – KrisEnergy Ltd. (“KrisEnergy” or...

Singapore, 5 December 2013 – KrisEnergy Ltd. (“KrisEnergy” or “the Company”), an independent upstream oil and gas company, is pleased to announce that the Cua Lo 1 ST-1 exploration well in Block 105-110/04 (“Block 105”) has reached a total depth of 2,867 metres measured depth (“MD”), or -2,800 metres total vertical depth subsea (“TVDSS”). The operator, Eni Vietnam B.V., is currently running wireline logs prior to undertaking a drill stem test. The Company intends to make a further announcement once all data has been received and analysed.
The Cua Lo 1 ST-1 well is a sidetrack well to the original Cua Lo-1 exploration well, which commenced drilling on 11 August 2013 and was then subsequently plugged back from a depth of -2,531 TVDSS and sidetracked due to an unexpected high pressure kick. Drilling operations have been further delayed by a series of strong typhoons passing through the region, which have resulted in the evacuation of crew from the Ensco 107 jack-up rig on four occasions.
Block 105 covers an area of 7,192 sq km offshore northern Vietnam, overlying the central Song Hong Basin where water depths range from 20 metres to 80 metres. The water depth at the Cua Lo 1 ST-1 location is 76 metres.
KrisEnergy holds a 25% working interest in Block 105 and is partnered by Eni Vietnam B.V. with 50% working interest and Neon Energy (Song Hong) Pty Ltd with 25%.