KrisEnergy : Proposed non-renounceable non-underwritten Preferential Offering - issue and despatch of the Offering Memorandum and timetable of key events

For Immediate Release

PROPOSED NON-RENOUNCEABLE NON-UNDERWRITTEN PREFERENTIAL OFFERING (THE "PREFERENTIAL OFFERING") - ISSUE AND DESPATCH OF THE OFFERING MEMORANDUM AND TIMETABLE OF KEY EVENTS

Nothing in this announcement constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful. Securities may not be offered or sold in the United States absent registration pursuant to the U.S. Securities Act of 1933, as amended (the "Securities Act") or an exemption from registration. The securities referred to in this announcement will be sold only outside the United States, in "offshore transactions" in accordance with Regulation S under the Securities Act ("Regulation S").

The board of directors (the "Board") of KrisEnergy Ltd. (the "Company") refers to the Company's announcements dated 3 November 2016, 17 November 2016, 7 December 2016,

9 December 2016, 12 December 2016 and 27 December 2016 relating to, inter alia, the Preferential Offering.

Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings ascribed to them in the Offering Memorandum (as defined below).

ISSUE AND DESPATCH OF THE OFFERING MEMORANDUM

The Company wishes to announce that the offering memorandum dated 6 January 2017 (the "Offering Memorandum") in relation to the Preferential Offering has today been issued and despatched to Entitled Shareholders (together with a copy of the Application Form for the Notes with Warrants and Excess Notes with Warrants (the "ARE") or the Provisional Allotment Letter (the "PAL"), as the case may be on or around 6 January 2017. A copy of the Offering Memorandum is available on the website of the Singapore Exchange Securities Trading Limited at http://www.sgx.com.

For practical reasons and in order to avoid any violation of the securities legislation applicable in jurisdictions other than Singapore, the Offering Memorandum and its accompanying documents has not been and will not be despatched to Foreign Shareholders.

ACCEPTANCES OF PROVISIONAL ALLOTMENTS OF NOTES WITH WARRANTS AND APPLICATIONS FOR EXCESS NOTES WITH WARRANTS

Acceptances of provisional allotments of Notes with Warrants and (if applicable) applications for excess Notes with Warrants may be made by Entitled Shareholders:

1. in the case of Entitled Depositors, by way of the ARE and/or by way of an Electronic Application through ATMs of DBS Bank Ltd. (including POSB) (the "Participating Bank"); and

2. in the case of Entitled Scripholders, by way of the PAL.

For Shareholders who hold Shares under the SRS or through finance companies and/or Depository Agents, acceptances of provisional allotments of Notes with Warrants and (if applicable) applications for excess Notes with Warrants must be done through the relevant approved banks in which they hold their SRS Accounts, respective finance companies and/or Depository Agents. Any application made directly by the abovementioned persons through CDP, Electronic Applications through ATMs of the Participating Bank, the Share Transfer Agent and/or the Company will be rejected.

More information on the procedures for acceptance, payment and applications for excess Notes with Warrants by Entitled Shareholders may be found in the Offering Memorandum, the ARE and the PAL.

COLLECTION OF THE OFFERING MEMORANDUM

Entitled Shareholders who do not receive the Offering Memorandum and its accompanying documents on or around 6 January 2017 may obtain copies of the documents from CDP or the Share Transfer Agent, as the case may be, at their respective addresses as follows:

CDP The Central Depositary (Pte) Limited 9 North Buona Vista Drive #01-19/20, The Metropolis, Singapore 138588

Share Transfer Agent M & C Services Private Limited 112 Robinson Road #05-01 Singapore 068902

SRS investors who do not receive the Offering Memorandum from their respective approved banks may obtain copies of the Offering Memorandum from the Share Transfer Agent (at the address stated above).

IMPORTANT DATES AND TIMES

The timetable below lists certain important dates and times relating to the Preferential Offering. All dates and times referred to below are Singapore dates and times.

Shares trade ex-rights	:	29 December 2016 from 9.00 a.m.
Record Date	:	3 January 2017 at 5.00 p.m.
Despatch of the Offering Memorandum (together with the ARE or the PAL, as the case may be) to Entitled Shareholders	:	6 January 2017
Opening date and time for the Preferential Offering	:	6 January 2017 at 9.00 a.m.
Last date and time for acceptance of and payment for provisional allotments of Notes with Warrants(1)	:	16 January 2017 at 5.00 p.m. (9.30 p.m. for Electronic Applications through ATMs of the Participating Bank)
Last date and time for application and payment for applications for excess Notes with Warrants(1)	:	16 January 2017 at 5.00 p.m. (9.30 p.m. for Electronic Applications through ATMs of the Participating Bank)
Expected date of issuance of the Notes and the Warrants	:	23 January 2017
Expected date for crediting of Notes and Warrants	:	24 January 2017
Expected date for refund of unsuccessful applications (if made through CDP)	:	24 January 2017
Expected date of commencement of trading of the Notes and the Warrants (subject to there being a satisfactory spread of holdings of the Warrants to provide for an orderly market in the trading of the Warrants) on the SGX-ST	:	25 January 2017

(1)This does not apply to SRS investors and investors who hold Shares through a finance company and/or Depository Agent. SRS investors and investors who hold Shares through a finance company and/or Depository Agent should refer to the section "Important Notice to SRS Investors and Investors who hold Shares through a Finance Company and/or Depository Agent" of the Offering Memorandum. Any application made by these investors directly through CDP, Electronic Applications through ATMs of the Participating Bank, the Share Transfer Agent and/or the Company will be rejected. Such investors, where applicable, will receive notification letter(s) from their respective approved bank, finance company and/or Depository Agent and should refer to such notification letter(s) for details of the last date and time to submit applications to their respective approved bank, finance company and/or Depository Agent.

The above timetable is indicative only and is subject to change. As at the date of this announcement, the Company does not expect the above timetable to be modified. However, the Company may, with the approval of the SGX-ST and upon consultation with the Lead

Manager, modify the above timetable subject to any limitation under any applicable laws. In such an event, the Company will publicly announce the same through an SGXNET announcement to be posted on the internet at the SGX-ST's website at http://www.sgx.com.

By order of the Board

Kelvin Tang

Joint Company Secretary 6 January 2017

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. Our strategy is to acquire assets in countries and basins where our technical team has expertise derived from decades of experience. Since 2009, we have built a portfolio of 18 contract areas in Bangladesh, Cambodia, Indonesia, Thailand and Vietnam, spanning the entire exploration-to-production life cycle. We operate 12 of the contract areas.

KrisEnergy's shares are listed on the mainboard of the Singapore Exchange Securities Trading Ltd under the ticker SK3. For more information, visit www.krisenergy.com.