TIS Energy Highlights Suraphi Oil Discovery in Gulf of Thailand

Singapore, 24 September 2026 – TIS Energy highlights the successful oil discovery at Suraphi, resulting from the Manora-9 exploration well and its subsequent sidetracks in Block G1/48, Gulf of Thailand. The discovery represents a significant milestone for TIS Energy and demonstrates the potential to create additional value through targeted exploration around an established producing asset.

TIS Energy holds a 30% participating interest in Block G1/48, with Valeura Energy as operator. The Manora-9 well was drilled as an open-water exploration well approximately 4.5 kilometres northeast of the Manora A platform and encountered oil-bearing sandstone reservoirs across multiple fault blocks, through the primary wellbore and its subsequent sidetracks.

TIS Energy worked closely with Valeura in supporting the exploration programme of Manora-9 well, resulting in the success of Suraphi discovery and adding further exploration potential to the area. The Manora-9 well and its subsequent sidetracks encountered an approximately 102 metres of combined total net oil pay, exceeding the pre-drill estimates significantly. The discovery’s proximity to the existing Manora infrastructure could support future development opportunities, including the potential to develop the nearby Malida field. The thicker-than-expected reservoir encountered and evidence of oil migration into the area have further de-risked a number of nearby exploration prospects.

The Suraphi discovery also demonstrates the potential value of continued exploration around established producing assets. By leveraging established infrastructure, subsurface knowledge and operating experience, targeted exploration can identify additional opportunities and potentially extend the value and productive life of existing assets. Valeura has indicated that development planning for Suraphi is now underway, including consideration of a satellite facility connected to the existing Manora infrastructure.

For TIS Energy, the Manora-9 well results builds on its growing experience in exploration and portfolio development. The successful outcome provides valuable insight into the exploration cycle, from identifying prospective opportunities and planning exploration activities through to drilling and evaluating subsurface results.

Ivan T. Handojo, Managing Director of TIS Energy, said, “The Suraphi discovery is an important milestone for TIS Energy and demonstrates the value of working closely with our partners to identify and pursue opportunities within our portfolio. The result highlights the potential of targeted exploration around established producing assets, where existing infrastructure and subsurface knowledge can support further value creation. The experience gained from Manora will further strengthen our approach to evaluating exploration and value-creation opportunities across our portfolio”.

The Suraphi discovery reinforces TIS Energy’s focus on building a resilient upstream portfolio through targeted exploration, disciplined investment and strong partnerships. As the company continues to grow its presence across Indonesia and Thailand, TIS Energy remains focused on creating sustainable long-term value from its assets and opportunities.

 *Cautionary statement: This release contains forward-looking statements, including regarding the potential development of Suraphi and nearby fields, which reflect the views of the operator and TIS Energy as of the date of this release and are subject to risks and uncertainties. Information regarding the discovery is based on information provided by the operator, Valeura Energy. Resource size and commerciality remain subject to appraisal and evaluation. There is no assurance that the discovery will be commercially viable or developed, or as to the timing of any development.