Singapore - KrisEnergy Ltd. ('KrisEnergy' or 'the Company'), an independent upstream oil and gas company, wishes to provide the following operational update.

The decimation of oil prices in the first four months of 2020 to the lowest levels in two decades due to the COVID-19 pandemic, the devastating impact on demand for oil and gas and an unprecedented supply glut have presented monumental challenges to oil and gas operators across the globe.

Analysts, institutions and energy think-tank organisations anticipate significant market turbulence ahead as the extent of the pandemic continues to emerge.

Business continuity

In view of COVID-19, KrisEnergy has activated its business continuity plan and has implemented health and safety measures in all offices and field locations as mandated by host government authorities. Office staff are working remotely, and steps have been taken to remove all non-essential personnel from field operations and lengthen shift rotations at the KrisEnergy-operated Bangora gas field, onshore Bangladesh, and the Wassana oil field, offshore in the Gulf of Thailand.

The Company is working with suppliers and contractors to maintain smooth and timely operations and resolve any anticipated disruptions to deliveries of equipment and materials as a result of logistical delays and/or travel restrictions for personnel due to COVID-19. The Company continues to work with its advisors and stakeholders to implement its financial restructuring and to advance the development of the Apsara oil field in the Cambodian sector of the Gulf of Thailand.

Contact:

Tanya Pang

Tel: +65 6838 5430

Email: tanya.pang@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 eight 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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