Strategic Business Logic

  • Field discovered with drilling of Bunga Mawar-1 March, 2012
  • Opportunity to prove up Bunga Mawar formation and initiate the Plan of development process.

Core Value

  • Oil asset that has the potential to provide access to near term production potential with upside:
  • Near term: Mawar Prospect: low risk, low cost oil near term production potential (0.60 – 7.00 mmbbls)
  • Upside: Eastern Area – P50 = 30 mmbo
  • Upside: Western Area – P50 = 26 bcf + 25 mmbo

Planned Operations & Newsflow

  • License extension and completion of acquisition.
  • Update on next steps following completion of acquisition.

Bunga Mas Map

Table 1 Gross resources:

Bunga Mawar Field:

Resource Description Oil/Cond. Recoverable (mmbbls) GCOS
  1C 2C 3C  
Contingent Resources 0.08 0.22 0.46  
  Low Best High %
Prospective Resources 0.52 2.09 6.54 44%

 

Other Structures on Licence:

 

Contingent Resources Gas Recoverable (net of CO2) (Bcf) COS
Structure 1C 2C 3C %
Melati 22.00 26.00 32.00 30%

 

Prospective Resources Oil/Cond. Recoverable (mmbbls) GCOS
Structure Low Best High %
Bakung 0.77 10.19 32.96 23%
Sakura 1.50 8.82 30.49 20%
Anggrek 0.80 6.80 13.37 15%
Melati East 1.18 3.13 8.7 20%
Melati West 8.52 25.58 51.56 23%