PRESENTATION KUNINGAN BLOCK SKK MIGAS PT.

Ekuator Energi Kuningan

Farm Out 40% WI and Equity PT.EKENKU KUNINGAN BLOCK SKK MIGAS PT. Ekuator Energi Kuningan

Play map around Kuningan Area at Talang Akar Formation overlay with Talang Akar and Baturaja Formations Leads.

Vertical Derrivative gravity order 1 and 2 maping Bouger Gravity Map

Interpretation of Seismic Profile 89 KTW - 06 aligned North - South

Interpretation of Seismic Profile 89 RDG - 13 aligned North - South

Hydrocarbon play concept of Kuningan Block Area

Leads area map of Kuningan Block at Baturaja Formation

Hydrocarbon resources at Kuningan Area

PSC EXPLORATION KUNINGAN BLOCK WORK PROGRAM AND COMMITMENT NO CONTRACT YEARS DESCRIPTION COMMITMENT ACTIVITY UNIT A. I II III BONUS Signature Bonus Equipment and/or Services Bonus Production Bonus: At Cumulative 25 MMBOE At Cumulative 50 MMBOE At Cumulative 75 MMBOE B YEARLY COMMITMENT FIRM EXPLORATION COMMITMENT I First G and G Seismic 2D Acquisition and processing Seismic 3DAcquisition and Processing Exploratory well II Second G and G Seismic 2D Acquisition and processing Seismic 3D Acquisition and processing Exploratory well III Third G and G Seismic 2D Acquisition and processing Seismic 3D Acquisition and processing Exploratory well IV Fourth G and G Seismic 2D Acquisition and processing KM KM2 Well KM KM2 Well KM KM2 Well 1 KM KM
2

BUDGET UNIT AMOUNT

AMOUNT

1 1

US.$ US.$

1.000.000 100.000

US.$ US.$ US.$

1.000.000 1.500.000 2.000.000

1 KM KM
2

US.$ US.$ US.$ US.$

700.000 2.400.000

200

Well 1 KM KM2 Well 1

US.$ US.$ US.$ US.$ US.$ US.$ US.$

200.000

150.000 6.500.000 100.000

Well

1 1

US.$ US.$ US.$

THE SECOND 3 YEARS EXPLORATION COMMITMENT

Seismic 3D Acquisition and processing Exploratory well V Fifth G and G Seismic 2D Acquisition and processing Seismic 3D Acquisition and processing Exploratory well VI Sixth G and G Seismic 2D Acquisition and processing Seismic 3D Acquisition and processing Exploratory well

100 1 1

US.$ US.$ US.$ US.$ US.$ US.$ US.$ US.$ US.$ US.$

4.500.000 6.500.000 200.000

6.500.000

1 Three (3) Years Firm Commitment Work Program US$ 27,750,000.00

EXECUTIVE SUMMARY OF KUNINGAN BLOCK

The Information of Kuningan Block The Kuningan Block is located approximately 183 km South East of Jakarta, in the most eastern part of West Java Province with total area of 2790.42 square kilometers. And this Oil Block is Production sharing Contract (PSC), has been signed in year 2012 and the end of the contract in year 2041 (30 years contract with Goverment). It is largely covered by volcanoes and volcaniclastics rocks.The Block is part of areas previously operated and explored by major oil companies. A total of 72 MMBO has been produced from part of this block. Several potential reservoir rocks in the study area are could be devided into three groups; sandstone, volcanic sandstone, and carbonate reservoir. Sandstone reservoir is sandstone from Talangakar equivalent Formation. The volcanic sandstone comes from Halang Formation. And the last are possible carbonate reservoir from Kalipucang Formation. Based on our reservoir engineering, the Oil in place is 1,104 MMBO and the Oil recoverable is 244 MMBO. And Oil production forecast (for 3 wells drilling) will be in year 2015 with average perday 2,234 BOP, and during 6 years the average oil production perday is 1,198 BOP. Total production crude oil during 5 years is 3,061,425 Barrels. The cost of the project for 1st and 2nd three year explorations (G&G, Seicmic and 3 Wells drilling) will be US$ 25 Million (discovery Oil production) and to build-up the facilities of production will be US$ 2.9 Million, so the total cost of this project is US$ 27.9 Million. The Parameter Economics 1. Cost Recovery, Maximum 100% 2. Contractors Profit split for Oil is 35% 3. Contractors Profit split for gas is 40% 4. Contractors Tax is 40% 5. DMO is 25% 6. DMO Fees is 25% 7. First Trance Petroleum is 20% 8. IRR is 46.22%

Model Of Business Strategic This oil block will be offered to Investors through Farm-out : 1. Farm-out of working interest & equity/shares company is 40% with the prices US$ 25 Million, and cost of the 1st and 2nd three year explorations as well as to build-up the facilities of production will be funded 100% by the Investor.

Ownership Company The ownership of this oil block is 100% equity belong to PT. Ekuator Energi Kuningan, and the company under holding company for Oil and Gas is PT. Equator Energy. PT. Ekuator Energi Kuningan has experienced to operate oil & gas field with supported by good management which has experienced in the oil and gas more than 30 years.

Contact Person Albert P Pasaribu Project & Business Development Director PT. Equator Energy Holding Company

EXECUTIVE SUMMARY OF PROJECT FINANCE - KUNINGAN BLOCK

PROJECT STATUS OPERATOR FINANCE LOAN
Alternative - 1

PSC - PT. Ekuator Energi Kuningan for Kuningan Block Kuningan Regency, West Java, Indonesia from 2012 to 2042 (Remaining : 29 Years)
-

PT. Ekuator Energi Kuningan

Proposed Project Loan

PHASE 1 - After Signing HOA PHASE 2 - On Second Well Drilling AFTER SIGNING MOU AND ENTERING DUE DILIGENT 40% Of Working Interest 40% Of Equity or Shares AFTER SIGNING MOU AFTER SIGNING HOA

US$
US$ US$ US$

Will be deducted on Phase 1

25% Of Working Interest and Euqity PT. EKENKU

DRAWDOWN OF CASH CALL FUND INITIAL CASH CALL DRAWDOWN

FARM OUT
Alternative - 2

US$
US$ US$

25,000,000.00
5,000,000.00 20,000,000.00 27,750,000.00
Will be deducted on FP

INITIAL PAYMENT FINAL PAYMENT

WORK PROGRAM - COST FOR 6 YEARS COMMITMENTS US$ SKK MIGAS 1. Cost Recovery Will be Taken First by Investor

2. After BEP, Contractor Profit Sharing Will be Split According on The portion Specified or Indicated on The Contract PSC 3. Joint Management 4. After Commercialty, Majority Shares Has A Right First to Go to Bank to Set Arrangement of The Loan to Develop This Project

PROJECT FINANCE - KUNINGAN BLOCK

PROJECT PSC - PT. Ekuator Energi Kuningan for Kuningan Block Kuningan Regency, West Java, Indonesia from 2012 to 2042 (Remaining : 29 Years) PT. Ekuator Energi Kuningan Proposed Project Loan Term Loan (Including GP) Grace Period (GP) Project Loan Interest ( 5 %)-will be negotiated to LIBOR Pay to Finance Company/Investor NET REVENUE Running Operation Oil Produced Oil Price Flat Gross Revenue after tax Operating Cost Pay to Finance Company Net Revenue after Tax FINANCIAL RESULTS Interest Internal Rate Of Return (IRR) NPV Contractors (10%) Pay Out Time After GP EQUITY PORTIONS : PT.EKENKU Finance Company ( FC)/Investor SPLIT NET REVENUE : PT.EKENKU Investor - Farm in 40% Finance Company EQUITY FC Without Interest With Interest 40.00% 51.86% US$ 60% 24% 16% US$ US$ US$ 60% 40% US$ During pay out time, the equity of PT.EKENKU will be held 100% by finance company & investor US$ Years Year US$ US$ US$ Years 6 Years US$ US$ US$ US$ US$

STATUS OPERATOR FINANCE LOAN PAY BACK LOAN

27,993,601.00 8 2 27,993,601.00 3,849,120.14 31,842,721.14 8 3,061,425.30 70.00 83,976,737.34 19,685,404.32 31,842,721.14 32,448,611.89 5 46.22 15,566,657.97 3.06
BBLS BBLS During 5 Years

% %
US$ Years

12,979,444.76 19,469,167.13 7,787,666.85 5,191,777.90

16,828,564.89

PROJECT PROFILE - KUNINGAN BLOCK

PROJECT Production Sharing Contract (PSC) between SKK MIGAS/Government and PT. EKENKUN the name : SKK Migas - PT. EKENKUN from 2012 to 2042 (Remaining : 29 Years) TERM OF CONTRACT Cost Recovery Max/year Tax First Trance Petroleum (FTP) CONTRACT HOLDER AREA 100.00% 44.00% 20.00% Contractor shares (bt) 44.64% SKK MIGAS shares (bt) 55.36%

PT. Ekuator Energi Kuningan - 100% share, active shareholder Kuningan Regency, West Java, INDONESIA Area : approximately 2,790.42 sq.km Exploration and Explotation Based on previous operator, the Kuningan block consists of basin with high and lows strcutural grains, and also oil and gas fields located in the western part and it shows that petroleum systems are present in the block.

STATUS FIELD Field History

OBJECTIVES

Main objectives

: Baturaja Build up Carbonates Formation

Second objectives : Talangakar Build up Carbonates Formation CUMMULATIVE OIL PROD. RESERVE 8 Leads (L1, L2, L3, L4, L5, L6, L7, L8) OOIP(P50) = 1,104 MMBO Oil Recoverable = 245 MMBO Initial Oil Recoverable = 21 MMBO POINT OF DELIVERY SELLING POINT UPSIDE POTENTIAL Kuningan Port Cirebon Port -

PARAMETER PROJECT

Total Project Loan - in M US$ Oil Price Flat per Barrel - in US$ Total Production - in MMBO Total Net Revenue - in M US$ Pay out Time (POT) - in Year

27,993.60 70.00 3,061.43 32,448.61 3.06

Total Wells (Drilling Exploration) Running Operation - in Year Average Production - in BOPD IRR NPV Contractor/PT.EKENKU 10% - in M US$

3 8 1,198.21 46.22% 15,566.66

COMPANY PROJECT AREA

: : :

PSC - PT. Ekuator Energi Kuningan

KUNINGAN BLOCK KUNINGAN REGENCY, WEST JAVA - INDONESIA

Description
A. PROJECT COST Study Geology, Geophysical & Reservoir Production Facilities Pipeline 40 Km Field to Jetty/Terminal Flow Line Seismic 3D/2D Survey Development wells Exploration/Delineation wells Operating Cost and G&A Payment to BP. MIGAS TOTAL PROJECT COST B. OPERATION COST General and Administration Insurance 0.4% from Asset Field Production Expenses Oil Transportation Development Wells Work Over Wells Total Operating Cost and G&A Interest TOTAL OPERATION COST C. REVENUE Total oil production Oil Price/flat Total Gross Revenue Less : Government Entitlement Contractor Shares/Gross Income Contractors Less : Total Investment (Project) Total Operating Cost Total Investment & Operating Cost TOTAL NET REVENUE

Unit
1 lot 1 lot 1 lot 1 lot 1 lot 1 lot 1 lot 1 lot 1 lot

Cost
US$

Remark

750,000 Study with Consultant and Purchased New Work Station 1,686,000 Storage Tank 4 x10,000 bbls, Separator Test and Production, Wash Tank, Manifold, Savety Equipment, Office & Room Control Pipeline to port, Test laboratorium and land clearance and Government permits 500,000 Flowline from wells to terminal block station 2,250,000 1 times seismic survey and process in 2013 and 2014 Drilled 2 development wells 20,400,000 Drilled 3 exploration wells 2,407,601 Only for 2 years, before commercial production Pay for bonus production to BP Migas (Cummulative production 25MMBO) 27,993,601

1 lot 1 lot 1 lot 1 lot 1 lot 1 lot

6,554,398 518,408 6,183,605 6,428,993 19,685,404

G&A cost per year Jakarta & Field US$ 1,092,399.67 Weighted insurance asset per year US$ 64,801.00 Operating and maintenance based on oil production Pipeline cost from field to Terminal/Jetty

5%

3,849,120 Weighted interest per year US$ 769,824.03 during 5 years 23,534,524

bbls US$ 1 lot 1 lot 1 lot 1 lot 1 lot 1 lot

3,061,425 70 214,299,771 130,323,034

Total oil production for 6 years only Oil Price assumtion Based on oil production for 6 years Entitlement 73.2%, FTP Fee & Tax Income

83,976,737 After Tax 27,993,601 23,534,524 51,528,125 32,448,612 Page 1

D. BREAK DOWN NET REVENUE PT. Ekuator Energi Kuningan has equity portion Finance Company has equity portion E. PARAMETER ECONOMIC PARAMETER ADMINISTRATION Long Term Contract Running Operation Running Oil Production Type of Contract Operator Max Cost Recovery per years PT. EKENKU portion BP Migas/Government Portion FTP Tax PARAMETER PRODUCTION Oil Price Flat (US$) Total Wells Total Production in MMBO Peak Production in BOPD Average Production in BOPD PARAMETER ECONOMIC Total Loan Term Loan Net Revenue Contractors IRR NPV Contractors 10% Pay out Time Grace Period Suncost/Cost recovery to be recovered

60% 40%

22,714,028 9,734,584 (NOTE : The interest will be negotiated upto below the lowest rate)

30 8 6 PSC 100% 44.6% 55.4% 20.0% 44.0% 70.00 3 3,061.43 2,233.71 1,198.21 27,993.60 8 32,448.61 46.22% 15,566.66 3.06 2 -

2012-2042period of contract (remaining 29 years) Years Years Production Sharing Contract with SKK MIGAS based on production sharing contract PT. Ekuator Energi Kuningan has 100% working interest and equity All cost will be recovered with max Cost recovery per year; 100% from gross income after deducted FTP Before Tax 44% First Run Petroleum will be taken first by SKK Migas/Government

Oil price based on Pertamina Assumption During 8 years During 8 years In year 2015 During 6 years in M US$ Including grace period 2 year in M US$ Internal Rate of Return Net Present Value in M US$ in Years Years in M US$ Page 2

SKKMIGAS - PT. EKUATOR ENERGI KUNINGAN

Production Profile of Kuningan Block av BOPY in that year 2,234 1,914 1,487 1,156 899 698 815,305 698,455 542,870 421,943 327,953 254,900 3,061,425 Cummulative BOPY 815,305 1,513,760 2,056,630 2,478,573 2,806,526 3,061,425 3,061,425

YEARS 2,013 2,014 2,015 2,016 2,017 2,018 2,019 2,020 2,021

BOPD

EXECUTIVE RESERVOIR : ORIGINAL OIL IN PLACE ULTIMATE RECOVER RESERVE CUMMULATIVE PRODUCTION OIL RECOVERABLE 8.57% FRM URR TOTAL OIL WILL BE PRODUCED

1,104.08 244.94 20.99 3.06

MMBO MMBO MMBO MMBO MMBO

PARAMETER ECONOMIC ANALYSIS OF KUNINGAN BLOCK SKK MIGAS - PT. EKUATOR ENERGI KUNINGAN
ASSUMPTION
RECOVERABLE RESERVE OIL CRUDE OIL PRICE DISCOUNT RATE FACTOR INVESTMENT MONEY GROSS REVENUE OIL (CONTRACTOR) OPERATION COST & INVESTMENTS NET PROFIT - PT.EKENKU (After Tax)

ECONOMIC

3,061.4 MMSTB 70.00 US$ / BBL 10.00% Per Year 27,993,601 214,299,771 51,528,125 32,448,612
US$ US$ US$ US$

NET PRESENT VALUE 10% INTERNAL RATE OF RETURN PROJECT LIFE PAY OUT TIME INTEREST - LIBOR

15,566,658 US$ 46.22% 8 Years 3.06 Years

5% Per/Yrs

PARAMETER ECONOMIC PSC

CONTRACTOR SHARE (BEFORE TAX) SKK MIGAS SHARE MAX COST RECOVERY FTP INCOME TAX

DISTRIBUTION REVENUE

44.64% 55.36% 100% X GROSS REVENUE 20% 44%

- SKK MIGAS REVENUE - GOVERNMENT TAXS - CONTRACTOR REVENUE TOTAL DISTRIBUTION REVENUE

101,803,387 28,519,647 83,976,737 214,299,771

US$ US$ US$ US$

PSC - PT. Ekuator Energi Kuningan

KUNINGAN BLOCK KUNINGAN REGENCY, WEST JAVA - INDONESIA Case : Oil Price $ 70

Budget Summary
( thousand US$)

TOTAL PROJECT
Total Oil - BOPD Total Yearly Production Mbbl Crude Price - $ US/bbl Total Production Rev G & A EXPENSES Jakarta Office Costs Field Office Costs Other

2013
70.00 -

2014
70.00 -

2015
2,234 815.305 70.00 57,071

2016
1,914 698.455 70.00 48,892

2017
1,487 542.870 70.00 38,001

2018
1,156 421.943 70.00 29,536

2019

2020

Total
1,048 3,061 23,811

899 698 327.953 254.900 70.00 70.00 22,957 17,843

508 526 80

573 526 80

573 526 80

573 526 80

573 526 80

573 526 80

573 526 80

573 526 80

4,518 4,208 640 9,366

Total
OPERATING EXPENSES Field Production Expenses Oil Transportation Expenses

1,114

1,179

1,179

1,179

1,179

1,179

1,179 1,179

25 0 25

89 0 89

1,200 1,712 2,912

1,146 1,467 2,613

1,053 1,140 2,193

980 886 1,866

924 689 1,613

880 535 1,415

6,298 6,429 12,727

Total
CAPITAL DEVELOPMENT Pipeline 40 Km to port Cirebon Basecamp Construction Production Facilities Flow line Drilling Expl.(3wells)& Exp.(2 wells) GGR Study Seismic Acquisition & processing

0.0 400.0 486 0 0 750 2,000 3,636

0.0 175.0 625 500 13,600 0 250 15,150

0.0 0.0 0 0 6,800 0 0 6,800

0.0 0.0 0 0 0 0 0 0

0.0 0.0 0 0 0 0 0 0

0.0 0.0 0 0 0 0 0 0

0.0 0.0 0 0 0 0 0 0

0.0 0.0 0 0 0 0 0 0

575 1,111 500 20,400 750 2,250 25,586

Total
Comprising of : Tangible Capital Costs Non Capital Costs

886 2,750

3,340 11,810

1,020 5,780

0 0

0 0

0 0

0 0

0 0

5,246 20,340

Total Expenditures

4,775 16,418 10,891

3,792

3,372

3,045 2,791 2,594

47,679

EVALUATION FOR KUNINGAN BLOCK FINANCIAL CALCULATION

Activity : KUNINGAN BLOCK Oil Price: 70
DESCRIPTION A. INVESTMENT Capital Non Capital Initial Cost (Cost recovery) Bonus Production Total B. PRODUCTION Total Cumulative Production C. GROSS REVENUE
US$/BBL

3.00

2.00

5.00

6.00

7.00

8.00

2,013

2013
886.00 2,750.00 3,636.00 3,889.40 1,139.40 2,750.00 3,889.40 3,889.40 3,889.40 (3,636.00) (1,139.40) (4,775.40) (4,775.40) (4,775.40) (4,775.40) (4,775.40) (4,775.40) 0.0 0.0

2014
3,340.00 11,810.00

2015
1,020.00 5,780.00

YEARS 2016 2017

-

2018
-

2019
-

2020
-

Total
5,246 20,340

MUS$ MUS$ MUS$ MUS$ MUS$ MSTB MSTB MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$

15,150.00 17,189.10 1,268.20 221.50 11,810.00 13,299.70 13,299.70 17,189.10

6,800.00 815.31 815.31 57,071.36 5,707.14 51,364.23 28,061.10 51,364.23 4,090.87 1,001.13 5,780.00 10,872.00 10,872.00 28,061.10 -

698.45 1,513.76 48,891.82 4,889.18 44,002.63 4,797.67 44,002.63 3,791.83 1,005.84 4,797.67 4,797.67 4,797.67 -

542.87 2,056.63 38,000.91 3,800.09 34,200.82 4,126.14 34,200.82 3,371.75 754.39 4,126.14 4,126.14 4,126.14 -

421.94 2,478.57 29,536.00 2,953.60 26,582.40 3,821.30 26,582.40 3,045.25 776.05 3,821.30 3,821.30 3,821.30 -

327.95 2,806.53 22,956.70 2,295.67 20,661.03 3,955.83 20,661.03 2,791.47 1,164.36 3,955.83 3,955.83 3,955.83 -

254.90 3,061.43 17,842.98 1,784.30 16,058.68 2,916.96 16,058.68 2,594.23 322.73 2,916.96 2,916.96 2,916.96 -

25,586 3,061 214,300 21,430 192,870 0 192,870 22,093 5,246 20,340 47,679 47,679 47,679 0

FTP 10% Available Revenue after FTP

Max. Cost Recoverable Max.Cost Recovery value 100% Investmen Credit Operating Cost Depreciation Non-Capital Investment Total expenses Total Cost To Be Recovered Cost Recovery Paid Carry Over Current Carry Over Last Year D. EQUITY TO BE SPLIT Total Equity To Be Split Unrecovered cost Total Equity To Be Split Goverment's Entitlement 55.36% Contractor's Entitlement 44.64% CONTRACTOR Investment Production Cost Total Cost Investmen Credit Contractor's Entitlement DMO DMO Fee Taxable Income CF Before Tax Cumulative CF Before Tax Company Tax (44%) Total Contractor Share Total Cost Net Income CummNet Income PERTAMINA DMO Net SKK MIGAS Entitlement SKK MIGAS Tax (56%) Net Income GOVERNMENT Company Tax (44%) SKK MIGAS Tax (56%) Income GOVERNMENT Goverment's Entitlement 73.2.% FTP DMO Fee Government TAX INCOME Net Income for Government PRODUCTION COST PER BARREL OPERATING COST PER BARREL

(15,150.00) (1,268.20) (16,418.20) (16,418.20) (21,193.60) (16,418.20) (16,418.20) (21,193.60) 0.0 0.0

23,303.12 23,303.12 12,899.93 10,403.19 (6,800.00) (4,090.87) (10,890.87) 10,403.19 10,403.19 27,573.42 6,379.82 (4,577.40) 33,886.89 (10,890.87) 22,996.01 1,802.41 12,899.93 (7,223.96) 5,675.97 4,577.40 7,223.96 11,801.37 12,899.93 5,707.14 4,577.40 23,184.47 5.0 13.4

39,204.96 39,204.96 21,702.73 17,502.23 (3,791.83) (3,791.83) 17,502.23 17,502.23 18,508.08 24,887.89 (7,700.98) 14,598.92 (3,791.83) 10,807.09 12,609.51 21,702.73 (12,153.53) 9,549.20 7,700.98 12,153.53 19,854.51 21,702.73 4,889.18 7,700.98 34,292.89 5.4 5.4

30,074.68 30,074.68 16,648.47 13,426.21 (3,371.75) (3,371.75) 13,426.21 13,426.21 14,180.60 39,068.49 (5,907.53) 11,644.82 (3,371.75) 8,273.06 20,882.57 16,648.47 (9,323.14) 7,325.33 5,907.53 9,323.14 15,230.67 16,648.47 3,800.09 5,907.53 26,356.09 6.2 6.2

22,761.10 22,761.10 12,599.89 10,161.22 (3,045.25) (3,045.25) 10,161.22 10,161.22 10,937.27 50,005.76 (4,470.94) 9,511.58 (3,045.25) 6,466.34 27,348.91 12,599.89 (7,055.94) 5,543.95 4,470.94 7,055.94 11,526.87 12,599.89 2,953.60 4,470.94 20,024.42 7.2 7.2

16,705.20 16,705.20 9,247.51 7,457.69 (2,791.47) (2,791.47) 7,457.69 7,457.69 8,622.05 58,627.80 (3,281.38) 8,132.14 (2,791.47) 5,340.66 32,689.57 9,247.51 (5,178.61) 4,068.91 3,281.38 5,178.61 8,459.99 9,247.51 2,295.67 3,281.38 14,824.57 8.5 8.5

13,141.72 13,141.72 7,274.88 5,866.85 (2,594.23) (2,594.23) 5,866.85 5,866.85 6,189.57 64,817.38 (2,581.41) 6,202.39 (2,594.23) 3,608.16 36,297.73

145,191 0 145,191 80,373 64,817 (25,586) (22,093) (47,679) 0 64,817 0 0 64,817 64,817 (28,520) 83,977 (47,679) 36,298

E.

F.

MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ MUS$ US$/BBL US$/BBL

7,274.88 (5,178.61) 2,096.27 2,581.41 5,178.61 7,760.02 7,274.88 1,784.30 2,581.41 11,640.59 10.2 10.2

0 80,373 (46,114) 34,260 28,520 46,114 74,633 80,373 21,430 0 28,520 130,323 7.22 15.57

G.

F.

CASH FLOW PERFORMANCE

Activity : Oil Price: KUNINGAN BLOCK 70 US$/BBL

2013 DESCRIPTION
CASH OUTFLOW Investment Production Cost FTP Pay Bank Loan Interest Bank Tax Total Cash Outflow CASH INFLOW Contractor Entitlement DMO Fee Cost Recovery Paid Total Cash Inflow CONTRACTOR'S NET CASH FLOW CONTRACTOR CUM. NET CASH FLOW PAY BACK LOAN TO THE INVESTOR 100% Contractor'S NPV @ INTEREST RATE OF RETURN (IRR) PAY OUT TIME (POT), Years Profit Invesment Ratio ($/$) 10.00% (3,636.00) (1,139.40) (4,775.40)

2014

2015

2016

2017

2018

2019

2020

TOTAL

(15,150.00) (1,268.20) (1,329.70) (17,747.90)

(6,800.00) (4,090.87) (1,049.76) (4,577.40) (16,518.04)

(3,791.83) (769.82) (7,700.98) (12,262.63)

(3,371.75) (489.89) (5,907.53) (9,769.17)

(3,045.25) (209.95) (4,470.94) (7,726.13)

(2,791.47) (0.00) (3,281.38) (6,072.86)

(2,594.23) (0.00) (2,581.41) (5,175.64)

. -

(25,586) (22,093) 0 0 (3,849) (28,520) (80,048)

(4,775.40) (4,775.40) -

(17,747.90) (22,523.30)

10,403.19 28,061.10 38,464.29 21,946.25 (577.04) 21,946.25

17,502.23 4,797.67 22,299.90 10,037.27 9,460.23 6,047.35

13,426.21 4,126.14 17,552.35 7,783.18 17,243.40

10,161.22 3,821.30 13,982.52 6,256.38 23,499.79

7,457.69 3,955.83 11,413.52 5,340.66 28,840.45

5,866.85 2,916.96 8,783.80 3,608.16 32,448.61

64,817 0 47,679 112,496 32,449

27,993.60

15,567 46.22% 3.06 1.27

DRILLING & WOROVER SUMMARY

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027 total

EXPLORATION WELL Shallow GUF WELL DEVELOPMENT WELL WOROVER-COMPLETION WELLS SERVICES

0 0 0 0 0
Total Wells

2 0 0 0 0
3

1 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

3 0 0 0 0

DRILLING & WORKOVER ACTIVITIES

Shallow GUF WELL
DEVELOPMENT WELL

EXPLORATION

0
1 2 3 4 5 6 7 8 9 10 11 12 13 14

Years

15