KrisEnergy is still offering a farm-in opportunity consisting of 44.5% participating interests in G10/48, located in the Pattani Trough (Gulf of Thailand Basin), as of early August 2020. The concession contains five oil fields, including the Wassana field that was brought onstream in 2015. The field has been producing from a series of stacked Miocene fluvial sand at a range of 3,250 to 5,000 bo/d in 2019. Production from the field was suspended in June 2020 in view of the global uncertainties related to the coronavirus disease 2019 (COVID-19) outbreak and low oil prices.    The G10/48 concession is under a 20-year production period which commenced on 7 December 2015. The Wassana Production Area was granted on 9 February 2015 by the Thailand Department of Mineral Fuel (DMF). On 8 December 2015, DMF also approved an Exploration Reserved Area of approximately 1,525 sq km, comprising contiguous and non-contiguous to the Wassana production area, for up to five years.  The operator has also identified over 50 mapped prospects and leads which would assign un-risked oil in place of 1.4 Bbbl to the concession.  KrisEnergy holds operatorship with 89% participating interest in the G10/48 concession since May 2014. Local company Palang Sophon Ltd holds the remaining 11% interest following the acquisition of an indirect 14.67% interest in KrisEnergy G10 (Thailand) Ltd, which holds 75% interest in the concession, in February 2015.  For further information, interested parties may contact:  Mike Whibley  VP Technical  Email: mike.whibley@krisenergy.com   Background Information  The G10/48 concession was originally awarded to Pearl Oil in December 2006. The concession is situated at the southern section of the Pattani Basin in water depth of 60 m, containing a producing field, Wassana (2009) and four oil discoveries Niramai (2009), Mayura (2010), Nong Yao Southwest 1 (2012) and Rayrai (2015). The Wassana field is one of the most matured assets for KrisEnergy in the Gulf of Thailand.   The discovery well, Wassana 1 was drilled in 2009 to a TD of 1,705m, targeted Miocene sandstones of the Pattani II/III units. The discovery is followed with a series of successful appraisal wells during 3Q 2010. Wassana 2, Wassana 2ST1 and Wassana 3 were drilled to total depths of 2,005 m - 2172 m. All three wells encountered oil.  KrisEnergy acquired operatorship in the G10/48 concession from Mubadala (which had acquired Pearl Oil) in May 2014. The company approved the Final Investment Decision (FID) for the Wassana development in late June 2014. A converted Bethlehem Matt Type jack-up rig was employed as a Mobile Offshore Production Unit (MOPU) which is suitable for water depth of around 65 meters and has full hydrocarbon processing facility for up to 20,000 b/d of oil and a water injection capacity of 15,000 b/d.  The last exploration activity in the concession is the drilling of Montha 1 in November 2018. The well was drilled to a TD of approximately 3,169 m (-2,785 m TVD) prior to plugged and abandoned as a dry well. The concession is covered by 728 line-km and 1,814 sq km of 2D and 3D seismic data respectively, from four different surveys.   Total recoverable reserves in the field have been estimated at 14 MMbbl of oil (2P). Contingent resources were estimated at 1.2 - 2.23 - 4.52 MMbbl of oil (1C-2C-3C).  Wassana is the first field brought on production by KrisEnergy as operator. The field came onstream on 14 August 2015 at an initial rate of 4,000 b/d from three initial wells. Production is achieved through the ÅIngenium MOPU and crude is stored in the Rubicon Vantage.  The field achieved it target to reach the plateau rate of 10,000 b/d by end of 2015. Production at the field peaked at around 12,800 bo/d, above the originally forecast plateau rate, and had levelled off to 11,060 bo/d in end of January 2016.
(Gulf of Thailand B.) G10/48 operated by KRISENERGY (89%), partner PALANG SP (11%), KrisEnergy is still offering a farm-in opportunity consisting of 44.5% participating interests. The concession contains five oil fields, including the Wassana field that was brought onstream in 2015. The field has been producing from a series of stacked Miocene fluvial sand at a range of 3,250 to 5,000 bo/d in 2019.