hui marah prospect telen psc, indonesia...mob/demob 2% (5) for pipelines and subsea installation...

April 2019 www.sundagas.com

Large, low risk oil and gas opportunity in the heart of Asian energy markets:

Hui Marah Prospect

Telen PSC, Indonesia

Andy Butler, CEO

http://www.sundagas.com/

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Disclaimer

These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation forany offer to buy or subscribe for any securities in the SundaGas Pte Ltd or its affiliates (the “Company”) nor shall they or anypart of them form the basis of or be relied upon in any manner or for any purpose whatsoever.

These Presentation Materials must not be used or relied upon for the purpose of making any investment decision or engaging inan investment activity. Neither the Company nor its directors makes any representation or warranty in respect of the contents ofthe Presentation Materials.

The information contained in the Presentation Materials is subject to amendment, revision and updating in any way withoutnotice or liability to any party. The presentation materials contain forward-looking statements which involve risk anduncertainties and actual results and developments may differ materially from those expressed or implied by these statementsdepending on a variety of factors. All opinions expressed in these Presentation Materials are those solely of the Company unlessotherwise stated. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of theinformation or opinions contained herein, which have not been independently verified. The delivery of these PresentationMaterials shall not at any time or in any circumstance create any implication that there has been no adverse change, or anyevent reasonably likely to involve any adverse change, in the condition (financial or otherwise) of the Company since the date ofthese Presentation Materials.

The Presentation Materials are confidential and being supplied to you for your own information and may not be reproduced,further distributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (except as providedfor in the relevant Confidentiality Agreement) or published, in whole or in part, for any purpose whatsoever. The PresentationMaterials may not be used for the purpose of an offer or solicitation to subscribe for securities by anyone in any jurisdiction.

Notice with respect to multi-client seismic data displays in this presentationWhere indicated, seismic displays are derived from data that are owned or controlled by and are an intellectual property right ofWesternGeco Seismic Holdings Ltd (“WesternGeco”) and are protected by international copyrights. The use of these data isrestricted to the Company through its valid use licence from WesternGeco and is subject to the confidentiality terms of thatlicence. The data shall not be disclosed or transferred except as expressly authorised in the licence. Any unauthoriseddisclosure, use, reproduction, reprocessing interpretation or transfer of this data is strictly prohibited.

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Telen PSC : Location in Prolific Mahakam Region

▪ 100% operated PSC, acquired from TOTAL (2018)

▪ Adjacent to multiple oil and gas fields and 20km from pipelines to under-utilised Bontang LNG

▪ Low risk Hiu Marah prospect identified by SundaGas as low cost drilling opportunity

▪ West Seno field near Hiu Marah has export pipelines with ullage and processing capacity

Map Source: Petroleum Economist

HIUMARAHBontang

Hiu Aman

4Displayed seismic derived from data licenced from WesternGeco - please refer to disclaimer on page 2

Telen PSC: Hiu Marah Prospect Summary

N S W E

Example Composite depth Map Example Max Trough Amp – 100m window ▪ SundaGas holds 100% interest in Telen PSC

▪ Hiu Marah is a high impact / low oil and gas risk prospect that is strongly DHI supported with high porosity turbidite sands

▪ Prospective resources of 128 MMbo and 218 Bcf (Pmean)

▪ 1,600m water depth, but top reservoir <1,000m below mud line

▪ Well cost estimated at US$ 15 MM, well planned for H2 2020

▪ Prospect lies only ~20km from infrastructure

▪ Additional running room in adjacent open acreage

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Hiu Marah Depositional Setting

ShelfIntra-slope mini-basin(modern equivalent of

Hiu Marah sands)

Basin floorWest Seno Field

Hiu Aman Discovery

Hiu Marah Prospect

Channel Leveesand Fans

‘Area II’ Setting

Fan lobes

6Diagrams from Redhead et al., 2000

West Seno Field – Subsurface Summary

▪ Well log of West Seno-4 reservoir section

▪ Extensively cored & tested: 112m net oil, 35m net gas

▪ Tested combined total of 19,350 BOPD + 18.5 MMcfd

▪ Upper to mid slope, channelised, complex and discontinuous reservoir sands

▪ Greater continuity prognosed at Hiu Marah

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Reservoir Horizon Mapping Example

Max trough amplitude

+-20m

Horizon instantaneous

amplitude

Amplitude anomalies

closely conformable to structure

Amplitude anomalies

terminate at faults

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Example Reservoir – Max Trough Amplitude +-20m

Amplitude cut-offs at faults and structural depths

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Example Reservoir AVO - (Far-Near) x Far

Amplitude cut-offs at faults and structural depths

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Notional Development Scenarios

▪ Notional development scenario work by Genesis

▪ Subsea development tied back to West Seno or

▪ Floating production and processing unit, including gas management and compression

▪ Oil export via West Seno pipeline or shuttle tanker

▪ Gas export via West Seno pipeline (20 km) to under-utilised Bontang LNG or domestic markets

BontangLNG

HIUMARAH

Hiu Aman

Map Source: Petroleum Economist

Santan

SundaGas ADEPT Build 0028

Date : 28/2/2019

Base Date: 2Q 2018

Currency USD

Oil bopd 35000

Gas MMscfd 60

Produced water bwpd 20000

Gas Lift MMscfd 20

Topsides Tonnes 4,129

Substructure Tonnes 22,115

Subsea Tonnes 482

FPSO Topsides (2) USD Millions 20

FPSO Hull (3, 4) USD Millions 83

Subsea USD Millions 340

Pipelines (& Risers) USD Millions 150

Mob/Demob (5) USD Millions 13

TOTAL CAPEX USD Millions 605

KEY MESSAGES CAPEX USD Millions 605

DECOMEX USD Millions 122

Topsides 3% (1) FPSO leased option. Annual OPEX USD Millions 53

Substructure 14% (2) COMPANY PMT cost. Annual FPSO Leased Rate USD Millions 74

Subsea 56% (3) Mooring system procurement & FPSO installation cost.

Pipelines 25% (4) Inclusive of mob/demob cost of installation vessels.

Mob/Demob 2% (5) For pipelines and subsea installation vessels.

Total 605 (6) Tie-in cost to West Seno FPU is excluded.

Maximum Design Rates

Weight Breakdown

CAPEX Breakdown

Costs

Telen PSC Visualisation Study - Option 1b (Leased FPSO)

J46621A

Geographical Area

INDONESIA - Internal Seas

Economic Parameters

3%

14%

56%

25%

2% Topsides

Substructure

Subsea

Pipelines

Mob/Demob


Date : 1/3/2019

Base Date: 2Q 2018

Currency USD

Oil bopd 35000

Gas MMscfd 60


Gas Lift MMscfd 20



Subsea Tonnes 582

Pipelines (& Risers) Tonnes -







Topsides 0% (1) Pipelines and subsea installation vessels. Annual OPEX USD Millions 18

Substructure 0% (2) Tie-in cost to West Seno FPU is excluded.

Subsea 72%

Pipelines 25%

Mob/Demob 4%

Total 562


Weight Breakdown

CAPEX Breakdown

Costs

Telen PSC Visualisation Study - Option 2

J46621A

Geographical Area


Economic Parameters

72%

25%

4%

Subsea

Pipelines

Mob/Demob


Date : 1/3/2019

Base Date: 2Q 2018

Currency USD

Oil bopd 35000

Gas MMscfd 60


Gas Lift MMscfd 20



Subsea Tonnes 582










Subsea 72%

Pipelines 25%

Mob/Demob 4%

Total 562


Weight Breakdown

CAPEX Breakdown

Costs


J46621A

Geographical Area


Economic Parameters

72%

25%

4%

Subsea

Pipelines

Mob/Demob


Date : 1/3/2019

Base Date: 2Q 2018

Currency USD

Oil bopd 35000

Gas MMscfd 60


Gas Lift MMscfd 20



Subsea Tonnes 582










Subsea 72%

Pipelines 25%

Mob/Demob 4%

Total 562


Weight Breakdown

CAPEX Breakdown

Costs


J46621A

Geographical Area


Economic Parameters

72%

25%

4%

Subsea

Pipelines

Mob/Demob

hui marah prospect telen psc, indonesia...mob/demob 2% (5) for pipelines and subsea installation...

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