KrisEnergy launches IPO in Singapore

Six-day public offer has opened.

KrisEnergy Ltd. (KrisEnergy), an independent upstream oil and gas company focused on the exploration for, and development and production of, oil and gas in Southeast Asia, announced that it has registered the Prospectus with the Monetary Authority of Singapore in connection with the Company’s initial public offering (IPO).

KrisEnergy offers investors access to a growing oil and gas company focused on Southeast Asia. Headed by a team of highly experienced industry professionals with an established track record of value creation within the region, the Company currently has a diverse portfolio comprising 14 contract areas in four countries. If the Company’s acquisition of Tullow Bangladesh Ltd. (TBL) and its farm-in to G6/48 in the Gulf of Thailand are completed, the Company’s portfolio will encompass 16 contract areas in five countries. These assets span the entire upstream life cycle of exploration appraisal, development and production, balancing positive cash flow with significant exploration potential.

KrisEnergy said demand for oil and gas globally is expected to stay strong, with demand in the Asia-Pacific region far surpassing the increase in demand from any other region both volumetrically and in terms of growth rate. The Company said its strategy is to leverage its extensive management expertise, the relevant experience of its key shareholders and strong industry fundamentals to become a leading oil and gas player, executing its strategy by: increasing production by developing discovered resources within existing assets; increasing the value of its exploration portfolio as well as identifying additional opportunities within the Company’s sphere of expertise.

Keith Cameron, KrisEnergy’s Chief Executive Officer, said: “We are delighted to announce the proposed listing of KrisEnergy. We have spent the last few years successfully building our asset base and moving our discoveries up the development and value pipeline. The injection of new capital will allow us to continue pursuing our focused strategy of discovering hidden value in significant assets to bring oil and gas to market. We are committed to achieving sustainable growth and delivering value to all of our shareholders.”

Will Honeybourne, KrisEnergy’s Non-Executive Chairman and First Reserve Managing Director, commented: “KrisEnergy is well positioned for continued shareholder value growth with a diversified portfolio that has considerable upside potential in multiple geological basins and countries within a region of increasing energy demand. The KrisEnergy team has demonstrated through their successful track record that they have the required competencies, as well as the regional expertise, to maximise the portfolio’s value while further increasing production and reserves through strategically sound acquisitions. ”

Pursuant to its IPO, the Company is issuing an aggregate of 151,993,000 Shares for subscription at the Offering Price. The Offering consists of: (i) an international placement of 132,093,000 Offering Shares (the “International Offer”) to investors, including institutional and other investors in Singapore, including 100,000 Offering Shares reserved for allocation and allotment to one of its directors; and (ii) a public offer of 19,900,000 Offering Shares in Singapore (the “Singapore Public Offer”), including 8,900,000 Offering Shares reserved for allocation and allotment to the Company’s employees, directors, business associates and others who have contributed to the Company’s success.

Application has been made to the SGX-ST for permission to list all of the Company’s Shares on the Main Board of the SGX-ST and the Company has received an eligibility-to-list letter from SGX-ST.