Result of Tender for Region of Coal Methane Gas and Work Area Non Conventional Gas in Indonesia

MINISTRY OF ENERGY AND MINERAL RESOURCES
REPUBLIC OF INDONESIA

PRESS RELEASE
NUMBER: 36/SJI/2014
Date: June 23, 2014

ANNOUNCEMENT OF RESULTS
REGULAR TENDER REGION OF COAL METHANE GAS IN 2012 AND OFFERS DIRECT WORK AREA NON CONVENTIONAL GAS YEAR 2013

Based on the Decree of the Minister of Energy and Mineral Resources No.: 345.K/13/DJM.E/2014 and Number: 346.K/13/DJM.E/2014 dated June 12, 2014, has been set Regular Work Area Auction results Methane Coal In 2012 and Direct Deals Non Conventional Oil and Gas Working Areas In 2013, as follows:

A. Regular Auction Final Assessment Work Area Coal Bed Methane in 2012 are as follows:

    Work Area Coal Bed Methane Blocks "GMB Air Ogan I" there is no winner.
    Work Area Coal Bed Methane Blocks "GMB Air Ogan II" there is no winner.
    Work Area Coal Bed Methane Blocks "Melak Mendung II" there is no winner.

B. Participant Direct Offers Work Areas designated as executor of Exploration and Exploitation of Oil and Gas Deals Direct Work Area Non Conventional Year 2013 are as follows:

    Non-Conventional Oil and Gas Working Area Block "MNK Kisaran" decided the winner is  Consortium Pacific Oil & Gas (Kisaran) Ltd.- Hill Central Sumatra Energy Pte.Ltd.-New Zealand Oil & Gas Limited;
    Non-Conventional Oil and Gas Working Area Block "MNK West Tanjung" set no winners.

C. Plan of Cooperation Contract Signing Working Area Non Conventional Oil and Gas
At the moment of signing the plan being prepared KKS Work Area Non Conventional Gas Block "MNK Kisaran" by Pacific Oil & Gas Consortium (Kisaran) Ltd. - Hill Central Sumatra Energy Pte.Ltd. - New Zealand Oil & Gas Limited.

Commitment must consist of G&G Study, 2D Seismic Reprocessing (500 km), and 1 (one) exploration well (vertical), with a total commitment of U.S. $ 11,565,000 Definitely. The signing of the plan, the government will receive U.S. $ 1,000,000 directly from Signature Bonus.

Head of Public Communication Center


Abdurrahman Saleh