8/9/2019 North Baturaja Block Pt Terra Global Vestal

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PT TERRA GLOBAL VESTALMenara Global 21 st Fl., Suite 21D

Jl. Jend. Gatot Subroto Kav. 27, Jakarta 12950 ndonesia!"one# $2%21%255&0015 Fa's.# $2%21%255&001$

Company Profle1. PT Terra Global Vestal Baturaja is t"e sole interest "older and o(erator o)

t"e *ort" +atura a +lo'k, ons"ore Sout" Su-atra. "e Govern-ent o) ndonesia a/arded t"e +lo'k to G + b si nin t"e !S3 4!rodu'tion S"arin

3ontra't on De'e-ber 19, 2011 )or a (eriod o) 60 ears.

2. "e rst 6% ear !rm Comm!tment is totall 8S 15,$50,000 t"at 'onsist o)(ro ra-s as listed in able%1.

Table"1# !rm Comm!tment $ear Pro%ram Bu&%et

1 2012 G:G Stud 8S500,000

2 2016 2D Seis-i' ;'! 420,000 +A!D,250 MM+A in B 15 elds , A an Ko-erin +lo'k o) JA+ !erta-ina% alis-an4&,000 +A!D, 50 MM+A in 5 elds and ;ir Ko-erin +lo'k o) 3a"a a +atura a4at e?(loration sta e . "e area east o) t"e blo'k is o(en as s"o/n in Fi ure%1.

Fi ure 1# nde? Ma( "e +oundar o) t"e +lo'k

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8/9/2019 North Baturaja Block Pt Terra Global Vestal

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,. -a!n Geolo%!*al eature an& y&ro*arbon Play . "e +lo'k is lo'ated att"e sout"east Cank o) Sout" Su-atra +asin. ;t +atura a For-ation level it isa ra-( to t"e Seri an un i " in t"e east. Ail is enerated )ro- t"e sour'ekit'"en in t"e /est 4t"e dee(sEsub%basins , i.e. "e an un Mirin Sub%basin,3inta-ani Sub%basin and Jantun Sub%basin. "e nort"/estern (art o) t"eblo'k s (osition is si-ilar to t"at o) Ka i%Se-o a area 4a 270 MM+A eld o) Med'o, 120 k- to t"e nort" to/ards its liran i ".

/. Current A*t!0!t!es . ate last ear G + "as 'o-(leted t"e First Hear3o--it-ent, i.e. t"e G:G stud t"at /as done internall /it" su(ervision be?(erts )ro- JG 4Ja(an Geos'ien'es nstitute n'. ;s an obli ation o) t"e'ontra't, G + "as also 'o-(leted t"e >+; 4>nviron-ental +aseline;ssess-ent surve t"at /as 'oordinated b t"e >nviron-ental Iesear'"3enter o) t"e 8niversit o) Sri/i a a.

. Prel!m!nary Results o) G G Stu&y . +ased on t"e available seis-i' and/ell data, t"e stud resulted in indi'ation o) (otential " dro'arbon leads. "e-ain ob e'tive is 'arbonate reservoir o) t"e +atura a For-ation and sandreservoir o) alan ;kar For-ation. "e assessed resour'es o) t"e identi edleads are totall $60 -illion barrels o) oil in $ 4si? leads. "e rst tar et /illt"e ead ; t"at "as a -ost likel re'overable oil resour'es o) 71 MMS +4-illion sto'k tank barrel .

3. 4e5t A*t!0!t!es . 8(on a((roval o) 2016 @!:+ late last ear, G + is

(re(arin t"e ad-inistration (ro'ess to 'ondu't &20 k- 2D seis-i' dataa'