KrisEnergy’s share price plunges on latest disappointing exploration results

Singapore: Singapore-listed KrisEnergy revealed late yesterday another disappointing result to its latest Vietnamese exploration well, sending its share price plunging by as much as 29% in early trading this morning.

“[T]he poor reservoir deliverability rate combined with high carbon dioxide content suggests that development of the tested reservoir will be unlikely,” KrisEnergy said in a release. The well will be plugged and abandoned

This is the second well to yield poor results for KrisEnergy in recent months. KrisEnergy launched on the Singapore Stock Exchange last July.  [10/01/14]