Singapore - The Board of Directors ('Board') of KrisEnergy Ltd. ('Company, and together with its subsidiaries, the 'Group') refers to its announcement dated 1 April 2020 in relation to the Company's application for an extension of time to (a) hold the annual general meeting ('AGM') for the financial year ended 31 December 2019 ('FY2019') from the previous deadline of 30 April 2020 to 29 June 2020 and the consequential extension of time for the issue of the Company's annual report for FY2019 ('AR2019') (including the FY2019 audited financial statements) from the previous deadline of 15 April 2020 to 12 June 2020 and (b) to announce the Company's unaudited financial statements for the first quarter ended 31 March 2020 ('1Q2020 Financial Statements') from the previous deadline of 14 May 2020 to 15 June 2020 (the 'Announcement').

Unless defined otherwise, all capitalised terms used but not defined herein shall have the meanings ascribed to them in the Announcement.

Approval of the Extension Applications

The Board wishes to announce that the SGX-ST has, on 4 May 2020, confirmed that based on the Company's submission and representations to SGX-ST, that SGX-ST has no objection to the waiver with regards to compliance with Rules 705(2) and 707(1) of the Mainboard Rules of the SGX-ST ('Waiver'), subject to the Board's confirmation on the following conditions: (a) the Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Mainboard Listing Rule 107 and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met; (b) submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company and the Company convening the AGM by 29 June 2020,

The reasons for seeking the Waiver have been set out in the Announcement and, as part of the Company's application to the SGX-ST, the Company had submitted a written confirmation to the SGX-ST that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the Company. Accordingly, save for the convening of the AGM by 29 June 2020, the Board confirms the fulfilment of the Waiver Conditions as at the date of this announcement.

Contact:

Tanya Pang

Tel: +65 6838 5430

Email: krisenergy@krisenergy.com

About KrisEnergy

KrisEnergy Ltd. is an independent upstream company focused on the exploration for and the development and production of oil and gas in Southeast Asia. The Company holds working interests in three producing oil and/or gas fields, two in the Gulf of Thailand and one onshore Bangladesh. It also participates in nine blocks in various stages of development, appraisal and exploration in Bangladesh, Cambodia, Indonesia, Thailand and Vietnam. KrisEnergy operates nine of the contract areas.

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