Investor Relations

PTTEP 13061/00-0290/2017

26 January 2017

President

The Stock Exchange of Thailand

93 Ratchadapisek Road, Din Daeng

Bangkok 10400

Dear Sir,

Subject:           Unaudited Financial Statements, Management Discussion and Analysis of Operating Results for 2016

Attachment:    
1. 2016 Unaudited Financial Statements and consolidated financial statements of PTT Exploration and Production Public Company Limited as of 31 December 2016 and 2015, including English translations
2. Management Discussion and Analysis of Operating Results for 2016

PTT Exploration and Production Public Company Limited, or PTTEP, would like to submit its 2016 unaudited financial statements, consolidated financial statements, and Analysis of Operating Results for 2016 as per attachments 1 and 2.  These attached financial statements have already been approved by the Audit Committee and PTTEP Board of Directors on the basis that information is accurately represented and sufficient for investors.

For 2016, the Company and its subsidiaries' total revenues were USD 4,339 million (equivalent to 152,745 million baht), a decrease of USD 1,275 million or 23% when compared with USD 5,614 million (equivalent to 191,908 million baht) in 2015. Total expenses were USD 3,711 million (equivalent to 131,019 million baht), a decrease of USD 2,239 million or 38% when compared with USD 5,950 million (equivalent to 205,606 million baht) of previous year.

The Company and its subsidiaries recorded a net profit of USD 372 million (equivalent to 12,860 million baht) or earnings per share of USD 0.07 (equivalent to 2.54 baht) compared with net loss of USD 854 million (equivalent to 31,590 million baht) or losses per share of USD 0.21 (equivalent to 7.96 baht) in 2015.

The Company and its subsidiaries’ total consolidated assets, as of 31 December 2016 were USD 18,891 million (equivalent to 676,890 million baht), total liabilities were USD 7,505 million (equivalent to 268,906 million baht), and total shareholders’ equities were USD 11,386 million (equivalent to 407,984 million baht). In addition, the Company’s total proved reserves as of 31 December 2016 was at 695 million barrels of oil equivalent (MMBOE).

Sincerely yours,

Somporn Vongvuthipornchai

Somporn Vongvuthipornchai

President and Chief Executive Officer