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 its announcements dated 29 March 2018 and 4 April 2019 in relation to (i) the extension of the revolving credit facility (the 'RCF') with DBS Bank Ltd. ('DBS') (as lender), KrisEnergy (Asia) Ltd (as borrower) and the Company (as one of the guarantors) by two years to 30 June 2020 and (ii) the subsequent upsize of the RCF which allows the RCF to be increased by an amount which would not result in the total commitments exceeding US$200 million (collectively, the 'Announcements').

Following the Announcements, the Board wishes to announce that the Group has entered into an amendment agreement with DBS on 30 June 2020 to extend the maturity of the RCF by six months to 31 December 2020. DBS is the sole arranger of the RCF, and the Company understands that there is a bilateral contract between Keppel Corporation Limited ('KCL') and DBS, pursuant to which the key economic risk in the RCF is held by KCL.

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 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/

(C) 2020 Electronic News Publishing, source ENP Newswire