KrisEnergy Holding Company Ltd Company presentation March 2012 - PowerPoint PPT Presentation

KrisEnergy Holding Company Ltd Company presentation March 2012

Disclaimer • This Presentation (the “Presentation”) has been prepared by KrisEnergy Holding Company Limited (the “ Company”, and taken together with its consolidated subsidiaries , the “Group”) to provide a high level overview of certain aspects of the operations of the Group. This Presentation speaks as of 1 March 2012 , and the Company assumes no obligation to update any statements herein • To the best of the knowledge and belief of the Company (which has taken all reasonable care to ensure that such is the case), the information contained in this Presentation is in accordance with the facts and contains no omission likely to affect its import • Information contained in this Presentation relating to reserve certification was derived from RPS Energy Ltd, Netherland, Sewell & Associates, Inc. and Rose & Associates, LLP. While the Company has taken reasonable actions to ensure that the statistical data attributed to RPS Energy Ltd, Netherland, Sewell & Associates, Inc. and Rose & Associates, LLP in this Offering Circular are reproduced in their proper format and context, the Company has not conducted an independent review of the information extracted or verified the accuracy of such data. The Company does not accept any responsibility for the accuracy of such information, nor has the Company independently verified any such information. The Company confirms that this information has been accurately reproduced, and so far as the Company is aware and is able to ascertain from information available from such sources, no facts have been omitted which would render the reproduced information inaccurate or misleading. • No reliance may or should be placed by any person on the completeness, accuracy or fairness of this Presentation. Readers of this Presentation should make their own enquiries and take own advice (including, but not limited to, financial and legal advice) before making any investment in any securities of the Company • This Presentation does not constitute or form a part of, and should not be construed as, an offer or invitation by the company to subscribe for or purchase any securities of the Company and neither this document nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever • This Presentation and its contents are proprietary information of the Company and may not be reproduced, forwarded or distributed to any other person or otherwise disseminated in whole or in part without the Company’s express written consent. 2 Company presentation March 2012

Table of Contents Introduction to KrisEnergy Production and Development Assets Exploration Assets Financials Outlook & Summary Appendix

Introduction to KrisEnergy • KrisEnergy is an upstream oil and gas company with a diverse portfolio in Southeast Asia – Production averaged 4,800 boepd in 2011 from three producing fields – EBITDAX of USD 61.9mm in 2011 – Certified net 2P reserves of 14.4 mmboe from three oil and gas fields – Certified net 2C resources of 19.5 mmboe as at 31 December 2011 – Recent acquisitions have added another 16 mmboe 2C resources according to Management's Best Estimate 1 – 13 contract areas in four countries, operator of seven blocks • Experienced management with proven track record in the Southeast Asian oil and gas sector – Established in 2009 by the same management team that founded Pearl Energy, which was listed on the SGX in 2005 and bought by Mubadala in 2008 for USD 833mm – In- house technical team, each with over 20 years’ experience in fast -track Asian onshore/offshore development projects – 54 employees with operations in Singapore and offices in Indonesia, Thailand and Vietnam • A portfolio company of US-based private equity firm First Reserve Corp. since June 2009 – First Reserve Fund XII, L.P. committed up to USD 500mm of equity capital (99%) to fund acquisitions and operations – Approx. USD 300.9mm of First Reserve funds have been invested as at 31 December 2011 • Issued USD 85mm senior secured bonds in July 2011 to finance development of discoveries – Repaid M&A facility – Secured new bank revolver of up to USD 30mm, security shared pari passu with bond – Developments to ramp-up production to ~13,400 boepd in 2015 and ~24,400 boepd in 2016 – Continued investment in new wells and shallow water platforms in Gulf of Thailand producing assets 4 1) To be certified by end of March 2012 Company presentation March 2012

Building a position in Southeast Asia Producing fields: Development: B8/32 & B9A Block A 4 platforms + 42 platform potential 37 platforms Developments: G10/48 & G11/48 Producing field: fields Glagah-Kambuna 5 platforms 1 platform + 2 further potential platforms New developments: East Java Gas (Bulu & East Muriah PSCs) and Kutai PSC Thailand Indonesia Cambodia Vietnam Group 31 December 2011 Average 2011 Production (boepd) 2,780 2,036 Development Exploration 4,816 2P reserves* (mmboe) 13.3 1.1 - - 14.4 2C contingent resources* (mmboe) 10.2 6.7 2.6 - 19.5 * Certified reserves and resources by independent auditors 5 Company presentation March 2012

Asset backing – certified reserve & resource overview • 2P reserves split 50% oil : 50% gas • 92% of 2P reserves base in Thailand, 8% in Indonesia • Future movement of 2C contingent resources to 2P reserves to come largely from Thailand and Indonesia • Another 16 mmboe have been added by “East Java Gas Project” according to Management’s Best Estimates 3 2P Reserves mmboe Certified 2P reserves & 2C resources B8/32 & B9/A (Thailand) 1 13.28 Glagah-Kambuna (Indonesia) 2 1.10 Kutai Total 2P reserves 14.38 B8/32 & B9/A Block A 2C Contingent Resources 1 mmboe G10/48 (Thailand) 5.65 G11/48 Glagah- G11/48 (Thailand) 4.57 Kambuna Block A (Cambodia) 2.58 G10/48 Kutai (Indonesia) 6.68 Total 2C contingent resources 19.48 2P+2C reserves & resources 33.86 1) Third party consultant: Netherland, Sewell & Associates, Inc . (“ NSAI ”) 2) Third party consultant: RPS Energy Ltd (“ RPS ”) 3) To be certified in March 2012 6 Company presentation March 2012

Production and investment forecasts Net WI Production Forecast • Production ramp-up to ~13,400 boepd in 2015 30000 and ~24,400 boepd in 2016 – Steady underlying production from the B8/32 & B9A fields 25000 East Muriah with ~280 wells on stream Bulu – Production growth from new developments 20000 Kutai boepd Block A 15000 • Maintenance CAPEX related to B8/32, B9A and Glagah- G11/48 Kambuna TAC 10000 G10/48 Kambuna 5000 • Development CAPEX reflects oil projects in Thailand, B8/32 & B9A Cambodia and new developments in Indonesia 0 2010 2011 2012 2013 2014 2015 2016 – Two platforms at G11/48 with production start Q1 2014 – Three platforms at G10/48 with production start Q3 2014 – Four platforms in Block A with production start Q4 2014 Net WI CAPEX Forecast – Includes development of gas fields in Kutai, Bulu & East 140 Muriah PSCs in Indonesia 120 • Exploration CAPEX related to drilling and seismic 100 acquisition in Kutai, East Seruway and Tanjung Aru PSCs Exploration 80 – High degree of discretionary exploration expenditure and few USD MM Development 60 commitments Maintenance – Process underway to farm-out exploration drilling 40 commitments in Vietnam 20 0 2010 2011 2012 2013 2014 2015 2016 7 Company presentation March 2012

Development schedule 2012-2016 2011 2012 2013 2014 2015 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Platform EPCI Block A FSO/PL Platform EPCI Cambodia Drilling Drilling Prod. Area Applic. FEED Platform EPCI G11/48 FSO/PL Thailand Drilling Prod. Area Applic. Platform EPCI Platform EPCI FEED G10/48 FSO/PL Thailand Drilling Drilling POD/GSA Platform EPCI Kutai PSC Drilling Indonesia POD/GSA East Java Gas FEED Platform EPCI Bulu & East Drilling Muriah PSCs = first production = production from additional platforms 8 Company presentation March 2012