KrisEnergy Ltd. announcement dated 31 March 2021 in relation to the production performance of the KrisEnergy-operated Apsara oil development. Further to the Announcement, the company wishes to update that it has received the independent review of the Apsara field's performance by third-party petroleum engineering consultant, Netherland, Sewell & Associates Inc. Based on performance data of the five wells since they were brought online on 23 February 2021, NSAI concluded that: Estimated ultimate recovery from the five development wells is likely to be a small fraction of the pre-development estimates primarily due to significantly lower volume of hydrocarbon-in-place connected to the wells and the geological complexity resulting in smaller oil accumulations; Additional contributing factors for the underperformance include: Performance data indicate that pressure depletion is the dominant recovery mechanism with little to no evidence of water support, resulting in a lower recovery factor; and Lower-than-anticipated well productivity may be due to potential formation damage in the oil-bearing zones.