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and CNTIC VPower that was signed in early process is ongoing, the Company has decided outlined in the Company’s market release of
2020. to cease repayment on certain of its financial 28 May 2020. Should the acquisition proceed,
As part of the agreement, the LNG obligations. Armour will appoint former Drillsearch
cargoes were sold on Free-On-Board (FOB) Further to the Announcements, the executive Mr Brad Lingo to the position of
basis, amounting to a total LNG volume of Company wishes to provide an update that CEO of the Company.
190,000 cubic metres. Both LNG cargoes were it will not be making payment of the interest Armour will advise the market of all
loaded at Petronas LNG Complex in Bintulu, payable under the S$130.0 million 4.0 per further developments in relation to this
Sarawak, and were delivered on 7 May 2020, cent. senior unsecured notes due 2022 matter.
onboard the CNTIC VPower Global, and on 3 amounting to S$2,708,160, which is due on 9 ARMOUR ENERGY, June 9, 2020
June 2020, onboard the Golar Kelvin. June 2020.
Commenting on Petronas’ successful entry KRISENERGY, June 9, 2020 Mahalo Gas project
into the Myanmar gas market, PLL’s Chief
Executive Officer, Abdul Aziz Othman said: receives state
“The two LNG cargoes that were successfully EAST ASIA
delivered to CNTIC VPower marks a new era environmental approval
in the growth of LNG demand in the South Kawasaki commences
East Asian region. With Myanmar as the latest Comet Ridge is pleased to announce that the
nation to adopt LNG as a form of cleaner sales of hydrogen liquefier Mahalo Gas Project (MGP) has been granted
energy, Petronas looks forward to being a Queensland State Government environmental
long-term partner and supplier, leveraging on Kawasaki Heavy Industries announced today approval for the gas development. This is the
our world-class reliability, as well as innovative that it started selling of the hydrogen liquefier second of two environmental steps required
and customer-centric solutions.” which was the first developed by made-in- for the project to move forward to production
Through Petronas’ integrated value chain Japan technologies with industry-leading and follows the Commonwealth Government
solutions, Petronas facilitated the delivery liquefaction efficiency. Environment Protection and Biodiversity
of the cargoes by granting conditional Hydrogen is a clean energy that does not Conservation Act (EPBC) approval in May.
acceptance to CNTIC VPower Global vessel generate greenhouse gases when used as a The MGP has now met all federal and state
in allowing for the very first multilobe tank fuel for power generation or fuel cell vehicles environmental regulatory requirements, in
comprising two cylindrical tank sections, or etc., and is expected to be used about 300,000 order to proceed.
better known as Bilobe type LNG vessel, to tons per year around 2030. Focusing on The MGP is located inside the northern
dock at the Bintulu terminal where cooling- the property of hydrogen, which becomes part of the ATP 1191 area. This project is held
down services were also provided. This was 1/800 in volume by liquefying at minus 40% by Comet Ridge Limited, 30% by Santos
achieved by Petronas’ focus on customer- 253°C, Kawasaki engaged in research and and 30% by APLNG (where Origin Energy is
centricity, which enables the Company to development of liquefaction technology. the development Operator).
adapt to unique requirements and fulfil The hydrogen liquefier has demonstrated Comet Ridge Managing Director, Tor
customers’ cleaner energy demands. its performance and reliability through McCaul said the third and last approval step,
PETRONAS, June 4, 2020 continuous demonstration operation for the issuing of the Petroleum Leases (or PL’s)
over 3,000 hours and various functional tests by the Queensland State Government, can
KrisEnergy updates on carried out until this spring. now proceed.
KAWASAKI HEAVY INDUSTRIES, June 10, 2020
COMET RIDGE, June 9, 2020
restructuring process
KrisEnergy, an independent upstream oil OCEANIA Oil Search announces
and gas company, refers to its announcement resumption of trading on
dated 14 August 2019 in respect of the Further Extension to
application filed in the High Court of the PNGX
Republic of Singapore for a moratorium Agreement with Oilex Ltd
pursuant to section 211B of the Companies Oil Search has successfully obtained an
Act (Cap. 50), and its announcements dated Further to the previous announcements of 28 interim injunction from the National Court of
21 August 2019, 22 October 2019 and 20 May and 1 June 2020, the Board of Armour Papua New Guinea (National Court), allowing
February 2020 in relation to non-payment of Energy wishes to advise that agreement has the recommencement of trading of its
certain financial obligations. been reached with Oilex to further defer shares on the PNG National Stock Exchange
As set out in the Announcements, given the date for the satisfaction of conditions (PNGX).
the financial condition of the Group, it is precedent under the binding Term Sheet Proceedings have commenced in the
not feasible for the Company to make all entered into between the parties, from 5 June National Court seeking orders confirming
payment(s) of its financial obligations as to 15 June 2020. the validity of the approvals it received from
they fall due. As part of the restructuring The conditions precedent include the Executive Chairman of the Securities
process, the Company is working closely the completion of due diligence, and the Commission of Papua New Guinea in
with its advisors to conserve all available execution of a detailed share sale agreement connection with the PNG Retail component
cash to meet the KrisEnergy Group’s funding for the acquisition of all the issued capital of its recent capital raising.
requirements during the restructuring period in CoEra Ltd, currently a wholly owned Oil Search will update the market once
to protect the interests of all stakeholders subsidiary of Oilex, and owner of all of Oilex’s those proceedings are concluded.
while a restructuring proposal is worked on. interests in the Cooper Eromanga Basin. Full OIL SEARCH, June 9, 2020
In this connection, while the restructuring details of the proposed acquisition are as

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