KrisEnergy Ltd. announced that Cambodia's first oil field in the offshore Cambodia Block A concession, commenced production on 28 December 2020. The Apsara field began flowing from a single development well and the flow rate will take at least 24 hours to stabilise. Production will increase to plateau as four additional wells are progressively completed and commissioned. The Apsara field lies over the Khmer Basin, an unproduced geological basin in Cambodian maritime waters in the Gulf of Thailand. Due to the unproven production performance of the basin, development of the Apsara area will be in several phases to mitigate risks and provide time for the collection and analysis of critical data to be applied in future phases. The components of Mini Phase 1A are: A minimum facilities wellhead support structure capable of housing up to six development wells, (the "Mini-Platform"); Five initial development wells drilled by the PV Drilling III jack-up rig; The Ingenium II production barge for oil, gas and water processing; A storage vessel moored in field for storage of processed crude oil prior to offloading; and Support from an onshore shore base at Sihanoukville, 160 km from the field location. KrisEnergy is the operator of Block A and holds a 95.0% working interest. The remaining 5.0% interest is held by Royal Government of Cambodia through the General Department of State Property and Non Tax Revenue ("GDSPNTR") of the Ministry of Economy and Finance.