Singapore - KrisEnergy Ltd. ('KrisEnergy' or the 'Company', and together with its subsidiaries, the 'Group'), an independent upstream oil and gas company, wishes to announce that the Company received on 8 April 2021 a letter dated 7 April 2021 (the 'Requisition Notice') by email from Ng Kay Yip and Serle Investments Limited (collectively, the Requisitioning Shareholders') requesting the Company to convene an extraordinary general meeting ('EGM') to consider a resolution to the following effect: (a) To form a committee of minority shareholders (and/or their nominees) ('Committee'), comprising up to five members; (b) The Committee be empowered to appoint an independent financial advisor and other appropriate advisors (together, the 'Advisors') to review the Company's existing business, operational and financial circumstances (including the decisions of the Board that has led to the Company's current financial circumstances), and to propose an alternate restructuring proposal, if necessary; The Company extend all reasonable cooperation and assistance (including the provision of all relevant documents, reports, minutes and information) to the Committee and the Advisors and (d) The costs and expenses of the Advisors be borne by the Company

A copy of the Requisition Notice is attached to this announcement solely for reference and does not constitute a notice of an EGM of the Company.

The Board has verified that the Requisitioning Shareholders collectively hold not less than 10.0% of the paid up voting share capital of the Company and is seeking legal advice on holding an EGM pursuant to the Requisition Notice under the complex circumstances currently faced by the Company.

The Board will provide an update to shareholders as and when there are material developments on this matter.

Shareholders, noteholders and potential investors of the Company are advised to read this announcement and any further announcements by the Company carefully and should exercise caution when dealing in the Company's securities. Stakeholders and potential investors who are in doubt as to the action they should take should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisors.

Contact:

Tanya Pang

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, one each in the Gulf of Thailand and offshore Cambodia, and one onshore Bangladesh. It also participates in five blocks in various stages of the E&P lifecycle in Indonesia and Thailand. KrisEnergy operates six of the contract areas.

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