RH Petrogas Limited

Building Resilience, Charting Forward

19 November 2018
Corporate Overview
• Listed on the mainboard of SGX
• Ticker code: T13 (SGX), RHP SP (Bloomberg)
• Share price (16/11/18): S$0.090 per share
• No of shares outstanding: 734 MM
• Market cap: S$66 MM
• Free float: ~35%

• O&G upstream pure play with a diversified portfolio in the full oil and gas cycle

• Asset profile

Basin PSC Island PSC Fuyu 1 PSC SK 331 PSC

Area 872 km2 1,097 km2 255 km2 8,309 km2
Working Interest 60% 33.2% 49% 40.8%
PetroChina and
Operator RHP RHP RHP*
Pertamina
PetroChina (30%) PetroChina (16.8%) Petronas Carigali
Partners CNPC (51%)
Pertamina (10%) Pertamina (50%) (20%)
* Operated by RHP (Mukah) Pte Ltd, a subsidiary which is 51% owned by RHP and 49% owned by Tumbuh Tiasa Enterprises S/B
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 Oil-based
Reserves and Resources
As at 1 Jan 2018*

2P+2C
Net 2P Reserves*, MMBOE (67% oil, 33% gas)
2P-Gas
25
2P-Oil 2P Oil

Series4 25% 2C Oil

20 20
20 32%
18 2P Gas
17
2CGas

15 1%
12
42%
10

MMBOE Net 2P Net 2C

5
Indonesia 4.0 34.1
China 12.9 14.3
-
Total 16.9 48.4
End 2013 End 2014 End 2015 End 2016 End 2017

*Figures were certified by independent qualified person

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Proven Operating Record
Production, BOEPD
5,000

4,000
• Net Production from Basin and
Island PSCs has maintained
3,000
relatively stable at around 4,000
2,000
BOEPD level over the years through
1,000 production optimization strategies
0 including workover, infill drilling,
2012 2013 2014 2015 2016 2017
EOR to counter natural field decline

Production cost, US$/BBL • Implementation of integrated

subsurface and EOR strategies to
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32
further evaluate field potential
32
30 30 29
28 28
29 • Cost reduction strategies continued
26
25 via contract renegotiations,
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streamlining of business processes
22
20
2012 2013 2014 2015 2016 2017
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 Diversified Oil & Gas Portfolio
Fuyu 1 PSC Basin PSC
• Started small scale Production • Conducted pilot
Fuyu 1 PSC
production from 14 of the Development integrated subsurface
Exploration
29 development wells study over Walio field
Fuyu 1 PSC
drilled in 2014/2015 • Workover of 6 wells with
Jilin, China
• Has produced and sold encouraging results
8,100 barrels of oil to- • Conducted EOR tests at
date as of Oct 2018 selected wells
• Concluded agreements
for increased gas sales
SK 331 PSC
• Cost control measures
• Completed
implemented
comprehensive G&G
study over entire block
• Further extension of PSC Island PSC
exploration period to 5 • Renegotiated FPSO rates
December 2019 to extend TBA economics
• To acquire new 2D
seismic in lieu of Singapore
SK 331 PSC
exploration well Sarawak,
Malaysia
Island PSC
commitment. Basin PSC
West Papua, Indonesia
• Seismic contract awarded
in Oct 18.
• Relinquishment of
approximately 28% of the
acreage
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Renewed PSCs Post 2020
• New 20-year PSCs for the Basin PSC and Island
PSC post 2020 signed in July 2018

• PSCs under the new Gross Split Scheme

implemented in Indonesia in 2017

• RHP awarded participating interest of 70% and

Pertamina will hold the balance 30% for both
blocks

• RHP retained Basin PSC operatorship and

appointed new operator for Island PSC

• Operational and cost synergies for the contiguous

blocks

• 5-year work commitment for exploration and

development activities with financial value of
US$98 MM (gross)

• Upcoming QPR to reflect reserve upgrade

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Financial Update 9M 2018

9M 2018 9M 2017
Realised Oil Price* (US$/barrel) 71 52

EBITDAX, US$ MM 7.6 8.5

Net Profit, US$ MM 2.4 2.7

Operating Cash Flow, US$ MM 2.5 8.5

External Debt Nil Nil

* Realised Oil Price for Indonesian assets

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Deepening our Capabilities and
Planning for Growth
• Outlook and Strategies
 Developing work strategies and programs for new 20-year term of the Basin
PSC and Island PSC post 2020
 Planning for optimisation of operational and cost synergies as operator of the
2 contiguous blocks in the new PSC term
 Target to expand production to 14 wells and to drill 4 new development wells
for Fuyu 1 PSC in 2018
 Further exploration work programme planned for SK 331 PSC, following
Petronas’ approval for a 2-year exploration period extension to Dec 2019
 Reviewing new acquisitions in the Asean region as and when opportunities
arise
 Continue to explore and tap suitable funding options to fund expansion

• Strengthening our operations

 Focus on maintaining oil production and increasing gas sales
 Continue to improve cost efficiency through various initiatives
 Continue to be a responsible operator and engage on sustainability practices in
our operated blocks
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Strong HSE Emphasis
• PBL achieved 7.8 MM man hours of work without lost time accident
from Jan 2015 to Dec 2017 and received several awards from
government

• OHSAS 18001 Occupational Health and Safety Management

Certification(1) for Arar block, Basin PSC

• ISO 14001 Environmental Management Certification(2) for Arar

block, Basin PSC

(1) OHSAS 18001 Occupational Health and Safety Management Certification is an international standard which provides a framework to identify, control and decrease the risks associated with health
and safety within the workplace.

(2) ISO 14001 Environmental Management System (EMS) is a systematic framework to manage the immediate and long term environmental impacts of an organisation's products, services and
processes.

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 Corporate
Social Responsibility
To support and foster
relationship with local
communities and contribute
to the improvement of their
living standard

Focus areas of CSR

programmes in Papua, Education support through education Establishment of a captive breeding
Indonesia: assistance fund, teacher training etc centre for jungle deer, listed as
vulnerable under IUCN#
 Education

 Health assistance

 Economic development

 Environment

 Infrastructure
development Free health service and nutritious Economic development through
food distribution donation of fish and crabs to improve
local’s livelihood and also help to
protect the environment by reducing
excessive fishing in the sea 10
# The International Union for Conservation of Nature
Disclaimer
The information set out in this presentation has been produced by RH Petrogas Limited as of 19 November
2018. This presentation and the information contained herein does not constitute an offer to sell or an
invitation to purchase any securities in, or any underlying assets of RH Petrogas Ltd, nor is it intended to form
any part of any investment decision.

For the avoidance of doubt, RH Petrogas Ltd, including its subsidiaries, associated companies, and their
respective directors, employees, or advisers makes no express or implied representation or warranty and no
responsibility or liability is accepted by any of them with respect to the accuracy or completeness of the
information set forth in this presentation. Nothing contained herein is, or shall be relied upon as, a promise or
a representation regarding the historic or current position or performance, or any future events or
performance of RH Petrogas Ltd. Parties should make their own assessment, undertake such investigations as
they see fit and obtain their own independent legal or other advice thereon.

This presentation may include certain forward-looking statements. All statements, other than statements of
historical facts, that address activities, events or developments that RH Petrogas Ltd expects or anticipates
will or may occur in the future are forward-looking statements. RH Petrogas Ltd’s actual results or
developments may differ materially from those indicated by these forward-looking statements as a result of
various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate
fluctuations, market shares, competition, environmental risks, changes in legal, financial and regulatory
frameworks, international economic and financial market conditions, political risks, project delay, project
approval, cost estimates and other risks and factors beyond the control of RH Petrogas Ltd. In addition, RH
Petrogas Ltd makes the forward-looking statements referred to in this presentation as of today and
undertakes no obligation to update these statements.

This presentation was prepared exclusively for the parties presently being invited for the purposes of
discussion. Neither this presentation nor any of its content may be used without the prior written consent of
RH Petrogas Ltd. This presentation contains proprietary and confidential information regarding RH Petrogas
Ltd.

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