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PT TERRA GLOBAL VESTAL

Menara Global 21st Fl., Suite 21D


Jl. Jend. Gatot Subroto Kav. 27, Jakarta 12950 Indonesia
Phone: 62-21-25580015 Facs.: 62-21-25580016

Company Profile
1. PT Terra Global Vestal Baturaja is the sole interest holder and operator of
the North Baturaja Block, onshore South Sumatra. The Government of
Indonesia awarded the Block to TGVB by signing the PSC (Production Sharing
Contract) on December 19, 2011 for a period of 30 years.
2. The first 3- year Firm Commitment is totally US$ 15,650,000 that consist of
programs as listed in Table-1.
Table-1: Firm Commitment
Year
Program
1 2012
G&G Study
2 2013

2D Seismic Acq. & Proc., 800 km


G&G Study

3 2014

Exploratory Drilling, 1 Well


G&G Study

Total

Budget
US$
500,000
US$
8,000,000
US$
500,000
US$
6,000,000
US$
650,000
US$
15,650,000

3. The Boundary of the Block. North Baturaja Block covers an area of 4,295
sq. km. To the west is bounded by Pasiriaman Block of JOB Pertamina-Golden
Spike (currently producing around 1,200 BOPD with an estimated total
reserves of 10,000 MMBO, Prabumulih Block of Pertamina EP (20,000 BOPD,
250 MMBO in > 15 fields) , Ogan Komering Block of JOB Pertamina-Talisman
(8,000 BOPD, 50 MMBO in 5 fields) and Air Komering Block of Cahaya Baturaja
(at exploration stage). The area east of the block is open as shown in Figure1.
Figure 1: Index Map The Boundary of the Block

4. Main Geological Feature and Hydrocarbon Play. The Block is located at


the southeast flank of South Sumatra Basin. At Baturaja Formation level it is
a ramp to the Seri Tanjung High in the east. Oil is generated from the source
kitchen in the west (the deeps/sub-basins), i.e. The Tanjung Miring Sub-basin,
Cintamani Sub-basin and Jantung Sub-basin. The northwestern part of the
blocks position is similar to that of Kaji-Semoga area (a 270 MMBO field of
Medco, 120 km to the north) towards its Iliran High.
5. Current Activities. Late last year TGVB has completed the First Year
Commitment, i.e. the G&G study that was done internally with supervision by
experts from JGI (Japan Geosciences Institute) Inc. As an obligation of the
contract, TGVB has also completed the EBA (Environmental Baseline
Assessment) survey that was coordinated by the Environmental Research
Center of the University of Sriwijaya.
6. Preliminary Results of G&G Study. Based on the available seismic and
well data, the study resulted in indication of potential hydrocarbon leads. The
main objective is carbonate reservoir of the Baturaja Formation and sand
reservoir of Talang Akar Formation. The assessed resources of the identified
leads are totally 630 million barrels of oil in 6 (six) leads. The first target will
the Lead A that has a most likely recoverable oil resources of 71 MMSTB
(million stock tank barrel).
7. Next Activities. Upon approval of 2013 WP&B late last year, TGVB is
preparing the administration process to conduct 820 km 2D seismic data
acquisition as part of the Second Year Commitment in the objective of
confirming the quantity and quality of hydrocarbon accumulation in the Block.
The program will be executed in the third quarter of 2013. The next plan, in
2014, will be drilling one exploration well based on the new seismic data.
8. Remark. The North Baturaja Block is the only remaining part of the
hydrocarbon prolific South Sumatra Basinthat availbale for further
exploration. The oil accumulation is expected in the deeper part (between
3600 feet 4800 feet), while the gas - most likely biogenic origin - in
commercial amount exist in the shallower part (less than 3000 feet) of the
Block.