Home Offshore Energy KrisEnergy completes farm-out agreement for Vietnam Block 115/09

KrisEnergy completes farm-out agreement for Vietnam Block 115/09

KrisEnergy, an upstream oil and gas company, refers to its announcements dated 14 February 2020, 19 June 2020, 16 September 2020, 16 December 2020 and 23 March 2021 in relation to the entry by its wholly-owned subsidiary, KrisEnergy (Vietnam 115) Ltd. (“Transferor”), into a farm-out agreement with a major international oil and gas company (“Transferee”) for the transfer of its entire 100% working interest in the Block 115/09 production sharing contract, offshore Vietnam for a nominal cash consideration (“Announcements”).

Further to the Announcements, the Company wishes to announce that the Vietnamese authorities have approved the transfer of 100% working interest and operatorship of Block 115/09 and the transfer was completed on 31 March 2021.

Shareholders, noteholders and potential investors of the Company 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.