Following the announcement on 28 January 2014, KrisEnergy Ltd., an independent upstream oil and gas company, has decided to pull out from the acquisition process for a 60% operated working interest in the G3/48 exploration licence in the Gulf of Thailand.
The Company made the decision as a result of an existing partner exercising its right of pre-emption over the acquisition.
“KrisEnergy continues to actively seek and assess new venture opportunities in its ongoing strategy to enhance its portfolio in all basins within a focus area stretching from Bangladesh in the West to West Papua in the East, and from offshore southern China in the North to Indonesia in the South,” the company said in a press release.
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Press Release, February 27, 2014