Singapore - The Board of Directors ('Board') of KrisEnergy Ltd. ('Company, and together with its subsidiaries, the 'Group'), an independent upstream oil and gas company, refers to (1) its announcement dated 4 August 2020 in relation to its application to the SGX-ST for an Extension of Time and (2) its announcement dated 16 October 2020 in relation to the Restructuring Exercise ('16 October Announcement') (collectively, the 'Announcements').

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings in the Announcements.

THE APPLICATION FOR EXTENSION OF TIME

As mentioned in the 4 August Announcement, the Company had on 4 August 2020, sought the approval of the SGX-ST for the Extension of Time of up to two and a half (2.5) months until 27 October 2020, to submit its Trading Resumption Proposal.

As announced by the Company previously, the Company had, on 14 August 2019, filed for a moratorium pursuant to Section 211B of the Companies Act (Cap. 50) (the 'Moratorium'), and the Moratorium was since granted and extended until 10 November 2020 or until such further order by the Singapore Court. As mentioned in the 16th October Announcement, the Moratorium was sought in conjunction with the Company's Restructuring Exercise, which is intended to comprise of (A) the Scheme; (B) the Consent Solicitation Exercise in respect of the Company's Zero Coupon Notes and (C) the Bilateral Agreement with DBS in respect of the Revolving Credit Facility.

Contact:

Email: KrisEnergy@HL.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 two producing oil and/or gas fields, one in the Gulf of Thailand and one onshore Bangladesh. It also participates in nine blocks in various stages of the E&P lifecycle in Bangladesh, Cambodia, Indonesia, Thailand and Vietnam. KrisEnergy operates eight of the contract areas. All notices pertaining to the ongoing restructuring process are available on the Restructuring Information Centre https://www.krisenergy.com/Investors/restructuring-information-centre/

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