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star energy

STAR ENERGY

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Natural Gas, 28.57%

Coal, 15.34%

Oil

51.66%

Geothermal, 1.32%

Hydro Power, 3.11%

Coal , 33%

Oil, 20% BIOFUELS, 5%

Geothermal, 5%

Biomass, Nuclear, HydroSolar Energy, Wind Power, 5%Coal Liquefaction

2%

NRE,17%

National (primary) Energy Mix of 2006(1 million BOE)

OPTIMIZING ENERGY

MANAGEMENT

National (Primary) Energy Mix of 2025(BaU Scenario) (5 million BOE)

National (Primary) Energy Mix of 2025 (Presidential Decree No. 5/2006) (3 million BOE)

Gas, 20.6%

Coal 34.6%

Oil,

41.7%

Geothermal, 1.1%

Mini/micro Hydro Power Plant, 0.1%

Power Plant, 1.9%

Target in 20251. Less than 1 for energy elasticity2. Optimized primary energy mix``

Gas, 30%

Source : Presidential Decree No.5/2006

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in GWh

No. Energy Sources 2006 2007 2008 2009 2010

1 Oil 28,009 9,104 5,978 4,350 4,950

2 Gas 27,063 47,293 55,827 63,577 65,912

3 Coal 54,659 60,091 65,836 72,173 81,341

4 Geothermal 6,539 10,030 10,426 11,666 13,154

5 Hydro 12,153 12,224 12,379 12,504 12,526

128,423 138,742 150,446 164,270 177,883Total

Source : The Electrical Power Supply Business Plan (RUPTL), PT PLN, 2006

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Indonesia’s Geothermal Fields

Wayang Windu Field

27.000 MWe of high temperature systems

1,182 MWe installed capacity

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Geothermal Road Map

2004 2008 2012 2016 2020 2025

807 MW(Productions)

2000 MW 3442 MW 4600 MW 6000 MW 9500 MW(Target)

1193 MWExisting WKP

1442 MWExisting WKP

1158 MWExisting WKP +

New WKP

1400 MWNew WKP

3500 MWNew WKP

GSDM, 2006

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I. Law No. 27/2003 on GeothermalII. Government Regulation No. 59/2007 on Geothermal EnterpriseIII. Ministerial Regulations

Ministry Regulation No. 02/2009The Guidelines for Geothermal Preliminary Survey

AssignmentMinistry Regulation No. 11/2008Mechanism for Determining of Geothermal Working Area

Ministry Regulation No. 05/2009Guideline for Electricity Pricing

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CHALLENGES & OPPORTUNITIES

HOW TO GET THERE – 4700 MW BY 2014> At least 1000 MW / year, Green field (US$ 2.5 – 3.0 M / MW)> How fast tender process can be performed, Readiness of Local Govt> How to attract the investors, not many players> Will need at least 20 units of Turbine / year, with capacity range from 10

up to 100 MW> Will need million feet of casing & tubing, 100 of wellheads (all long lead

lead items)> Drilling rigs availability> Human Resources

ON THE OTHER HAND – It can bee seen as opportunity..> Opportunity for investment> Player from abroad to participate> Turbine manufacturers get orders> The same for Casings, Tubing, Well head etc> Job opening

DO WE HAVE THE ANSWER ON THE ABOVE EXPECTATION IN THIS CURRENT ECONOMIC ENVIRONMENT

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star energy

STAR ENERGYProfile

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COMPANY VISION

TO BECOME : THE MOST RESPECTED, FASTEST GROWING ENERGY PRODUCER IN

INDONESIA BY CREATING COMPETITIVE AND BALANCED VALUE

FOR OUR INVESTORS, OUR EMPLOYEES,THE COUNTRY AND THE

COMMUNITY

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COMPANY MISSION

THE ROAD TO SUCCESS LIES IN GAININGTHE RESPECT OF, AND BEING THE PARTNERS

OF CHOICE FOR, ALL OF OUR STAKEHOLDERS.WE WILL WORK

DILIGENTLY TO GAIN THE RESPECT OF OUR INVESTORS, OUR EMPLOYEES, OUR

PARTNERS, THE COUNTRY AND THE COMMUNITY BY BEING THE BEST AT WHAT

WE DO

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BRIGHT STAR

BALANCE VALUE FOR STAKE HOLDERRESPECT PEOPLEINNOVATIVE AND ENTREPRENUERIALGO EXTRA MILESHONESTY AND INTEGRITYTEACH YOUR SELF DAILY

SAFETY, HEALTH AND ENVIRONMENTTEAM WORKAWARNESS OF COSTRELATIONSHIPS ARE IMPORTANT

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Star Energy Profile

STAR ENERGY established in April 2003.

On 18 September 2003, Star Energy purchased of 31.25 % stake and operating control in a producing oil and gas field, KAKAP PSC Block, in the Natuna sea.

In November 2004, Star Energy took over Magma Nusantara Ltd., which operate 110 MW geothermal power plan at Wayang Windu of West Java. Just finished with installation 2nd Unit for 117 MW and fully in commercial operation in March 2009. Current capacity now become 227 MW. Effective February 24, 2009 Magma Nusantara Ltd now became Star Energy Geothermal (Wayang Windu) Limited

At present, Star Energy also has 100% share in the exploration of Banyumas PSC Oil & Gas Block (Awarded in 2005), 100% share in the exploration of Sebatik PSC Oil & Gas (Awarded in 2006) Block of East Kalimantan, and 100% share in the exploration of Sekayu PSC Oil & Gas Block of South Sumatera (Awarded in 2007)

February 2009, awarded another Jailolo Geothermal field at Halmahera Regency of Maluku Province.

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Who Are We? -Star Energy Holdings Pte Ltd

Key Highlights

Experienced Operations Team & Market Leader in Project Delivery

Consistently beat budget production/ project delivery in the past few years

Experienced Operational and Project Management Teams

Subsurface excellence track record

SEHPL

Attractive Oil & Gas Portfolio With Significant Upside

Operator ship in three blocks

One producing block with 8.7 yr Reserve to Production ratio

Three promising exploration blocks located near other producing blocks

World-Class Geothermal Assets

100% working interest and Operator since 1994

400 MW contract through 2036

Near term expansion with Unit 2 under construction and Unit 3 & 4 in development

Operating Availability >98%; 24MWe steam/well

Financial Strength

Consistent operational profitability

Good liquidity ratios

Strong Capital Structure

Strong financial support commitment from Shareholders

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Star Group – Corporate Structure

31.25% working interest in Kakap PSC

100% working interest in

Banyumas PSC

100% Wayang Windu Project

100% working interest in

Sebatik PSC

100% working interest in

Sekayu PSC

Star Energy Holdings

Star Energy(Kakap)

Ltd.

Star Energy(Banyumas)

Ltd.

100% 100%100%

Magma Nusantara

Ltd

Star Energy Sentosa

(Sebatik) Ltd

100%

Star Energy (Sekayu) Ltd

75%

Shareholders include :Ashmore Holdings, more than US$ 50 billion in asset under management and portfolio of energy assets that include ex-Enron assets.Barito Pacific, one of the largest Indonesia conglomerates with market capitalization of Rp21 trillion

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Dili

PHILIPPINES

SOUTH CHINA SEA

PhilippinesMalaysia

THAILAND

Surabaya

Jakarta

Medan

Tanjungkarang

Palembang

Bengkulu

Padang

Pekanbaru

Kuala Lumpur

Yogyakarta

KANGEAN

BAWEANUjungpandang

Palu

Jayapura

I R I A N J A Y A

SULAWESI

B A N D A S E A

A R A F U R AS E A

C E L E B E S S E A

Indo

nesi

aPa

pua

New

Gui

nea

Kuching

Palangkaraya

Banjarmasin

Samarinda

BandarSeri Begawan

BRUNEIDARUSALAM

J A V A S E A

K A L I M A N T A N

S A R A W A K

SemarangBandung

Jambi

6° S

12° S

0°

12° N

6°NBanda Aceh

112° E100° E 106° E

Dili

0 500Kilometers

118° E 124° E 130° E 136° E

NIAS

BATU

SIBERUT

PAGAI

SINGAPORE

SINGKEP

BINTAN

BANGKA BELITUNG

ENGGANO

Pontianak

Kendari

BUTON

SUMBAWA

Kupang

FLORES

LOMBOK

Mataram

BALI

Denpasar

TANIMBAR

ARUKAI

Manado

Ambon

HALMAHERA

BURU

MISOOL

SULAPELENG

BIAK

YAPEN

KOLEPOM

SandakanKinabalu

S A B A H

SIMEULUE

Toba Lake

NATUNA

Balikpapan

P A C I F I C O C E A N

J A V A

ARUN

Pangkalanbrandan

SERAM

Dir:\Drawings\Wayang Windu\Jailolo.dsf

BATAM

PhilippinesIndonesia

SEBATIK PSC.

starenergy Star Energy

MAP LOKASI

I N D I A N O C E A N

KAKAP PSC.

BANYUMAS PSC.WAYANG WINDU

SEKAYU PSC.

Jailolo

Star Energy Location

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star energy

STAR ENERGYKakap

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Description of Kakap PSC

Located in Natuna Sea, Indonesia, 486 km NE of Singapore and 1247 km North of Jakarta.

Covers 2000 square kilometers in 2 separate blocks with 9 oil and gas fields (4 platforms and 5 subsea tie- backs).

Has long-term contract with GOI until March 2028 (original contract was from 1975 until 2005 and has been recently extended)

Current PSC parties include Star Energy (31.25%), Novus/Medco (25%), Premier (18.75%), Singapore Petroleum (15%) and Pertamina (10%).

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West Natuna Transportation System

CONOCOPHILLIPS INDONESIA BLOCK ‘B’ = 43.1 %PREMIER OIL – BLOCK ‘A’ = 36.9 %STAR ENERGY – BLOCK KAKAP = 20.0 %

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Description of Kakap PSC - Location Map

All fields located in South Kakap Block

Has 9 Producing fields (4 platforms and 5 subsea tiebacks)

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Facilities and Infrastructure - Schematic

All oil piped to FPSO for processing and storage

Gas processed at KF platform before shipping to Singapore via WNTS pipeline

Sales gas currently coming from KH and KRA fields

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Facilities and Infrastructure – FPSO

Start up

: March 1986Cargo Capacity : 650,000 BblsProcess Capacity

: 25,000 BOPDCurrent

: 2,250 BOPD20,000 BWPD

Staff

: 53Accomodation

: 87

$16.5 mm Refurbishment 2001-2004200

3

: $3.9 mm2004

: 2.4 mm

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Facilities and Infrastructure - Kakap Platforms

KH Platform

KF Platform KRA Platform

KG Platform

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star energy

STAR ENERGYWayang Windu

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Wayang Windu Power Station

Salak

Patuha

Darajat

Kamojang

Karaha Bodas

Wayang Windu

LOCATIONSPangalengan - West Java± 40 km south of Bandung

ELEVATIONS+1700 meter from sea level

AREA14,400 ha Resource area

96 ha Tea Plantation11.2 ha Forestry area

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Facilities Facilities –– Steam FieldSteam Field

Total Wells are 39 wells: - Reservoir temp. 260°C to 325°- Depth range 1300 m to 2500 m

14 Production Wells Supplying steam for Unit 15 Injection Wells Sufficient for Unit 1& Unit 25 Slim Holes3 Abandoned Wells6 Non-Commercial 2 temporary abandonment6 Production wells New wells for Unit 2

Steam Lines (17.5 km, 36”, 42”, & 48” dia.)Operating pressure 10 to 14 barOperating temperature 190°C

Injection Lines (16 km, 18”,24” & 30” dia.)Operating pressure 10 bargOperating temperature 180°C

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Power StationPower Station

Turbine

manufacturer - Fuji Electric Co., Ltdoutput 110 MW and 117MW grossSingle casing, dual flow, double exhaustRated steam pressure 10.2 barRated steam temperature 180.7 °CLength of last stage blade 27 inch.

Generator UnitManufacturer - Fuji Electric Co., LtdSynchronous, Brush Less typeoutput 137,500 kVAvoltage 13.8 kV

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Main Transformer13.8 kV ~ 150 kV Capacity 92 / 134 MVA (ONAN / ONAF)

CondenserDirect contact, spray jet typeCirculating water flow 16,700 m3/hourSteam flow 718,663 kg/hour

Power StationPower Station

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Gas Removal System2 x 50% hybrid system type1 x 50 % ejector type (back up)NCG flow 14,667 kg/hour

Hot Well PumpVertical centrifugal canned typeCapacity 10,200 t/h, 2 x 50%

Power StationPower Station

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Cooling Tower Cooling Tower -- fans 2 x 8 Cellfans 2 x 8 Cell

Power StationPower Station

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FACILITIES-STEAM ABOVE GROUND FACILITY

SEPARATOR (Vessel)SEPARATOR (Vessel)Capacity 6 x 48 MWCapacity 6 x 48 MW

SCRUBBER (Vessel)SCRUBBER (Vessel)Capacity 4 x 65 MW Capacity 4 x 65 MW

UU--22UU--11

UU--11

UU--22

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2009 KEY ACTIVITIES

CONTINUE UNIT 3 WAYANG WINDU PROJECT, DESIGN FOR 120 MW SINGLE UNIT. COMPLETION TARGET BY 2012

DRILL SEBATIK PSC EXPLORATION BLOCK

DRILL SEKAYU PSC EXPLORATION BLOCK

GRAVITY SURVEY BANYUMAS EXPLORATION BLOCK

BEGIN WITH A SURVEY AND EXPLORATION ACTIVITIES IN THE NEW JAILOLO AREA

ACTIVELY PARTICIPATE IN THE COMING GEOTHERMAL TENDER BY GOVERNMENT

SEEKING APPOINMENT FROM GOVERNMENT TO PERFORM A STUDY FOR A GEOTHERMAL PROSPECT IN EAST JAVA PROVINCE

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Star EnergyYOUR PARTNER OF CHOICE

VISIT OUR WEBSITE : WWW.STARENERGY.CO.ID

THANK YOU