star energy

STAR ENERGY

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National (primary) Energy Mix of 2006 (1 million BOE) Hydro Power, 3.11% Geothermal, 1.32%

Natural Gas, 28.57% Oil

Target in 2025 1. Less than 1 for energy elasticity 2. Optimized primary energy mix``

51.66% Coal, 15.34%

National (Primary) Energy Mix of 2025 (Presidential Decree No. 5/2006) (3 million BOE)

National (Primary) Energy Mix of 2025 (BaU Scenario) (5 million BOE) Power Plant, 1.9% Mini/micro Hydro Power Plant, 0.1% Geothermal, 1.1%

Oil, 20%

Gas, 20.6%

OPTIMIZING ENERGY MANAGEMENT

Oil, 41.7%

Gas, 30% NRE,17%

Coal , 33% Coal 34.6%

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BIOFUELS, 5% Geothermal, 5% Biomass, Nuclear, Hydro Solar Energy, Wind Power, 5% Coal Liquefaction 2%

Source : Presidential Decree No.5/2006 2

in GWh No.

Energy Sources

2006

2007

2008

2009

2010

1

Oil

28,009

9,104

5,978

4,350

4,950

2

Gas

27,063

47,293

55,827

63,577

65,912

3

Coal

54,659

60,091

65,836

72,173

81,341

4

Geothermal

6,539

10,030

10,426

11,666

13,154

5

Hydro

12,153

12,224

12,379

12,504

12,526

128,423

138,742

150,446

164,270

177,883

Total

Source : The Electrical Power Supply Business Plan (RUPTL), PT PLN, 2006

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Indonesia’s Geothermal Fields

Wayang Windu

Field

 27.000 MWe of high temperature

systems

 1,182 MWe installed capacity

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Geothermal Road Map

2004

2008

807 MW

2016

2012

2000 MW

3442 MW

2020

4600 MW

2025

6000 MW

9500 MW

(Productions)

(Target)

1193 MW

1442 MW

Existing WKP

Existing WKP

1158 MW Existing WKP + New WKP

1400 MW

3500 MW

New WKP

New WKP

GSDM, 2006

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I. II. III.

Law No. 27/2003 on Geothermal Government Regulation No. 59/2007 on Geothermal Enterprise Ministerial Regulations  Ministry Regulation No. 02/2009  The Guidelines for Geothermal Preliminary Survey Assignment  Ministry Regulation No. 11/2008  Mechanism for Determining of Geothermal Working Area  Ministry Regulation No. 05/2009  Guideline for Electricity Pricing

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CHALLENGES & OPPORTUNITIES 

HOW TO GET THERE – 4700 MW BY 2014 > At least 1000 MW / year, Green field (US$ 2.5 – 3.0 M / MW) > How fast tender process can be performed, Readiness of Local Govt > How to attract the investors, not many players > Will need at least 20 units of Turbine / year, with capacity range from 10 up to 100 MW > Will need million feet of casing & tubing, 100 of wellheads (all long lead lead items) > Drilling rigs availability > Human Resources



ON THE OTHER HAND – It can bee seen as opportunity.. > Opportunity for investment > Player from abroad to participate > Turbine manufacturers get orders > The same for Casings, Tubing, Well head etc > Job opening

DO WE HAVE THE ANSWER ON THE ABOVE EXPECTATION IN THIS CURRENT ECONOMIC ENVIRONMENT

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star energy

STAR ENERGY Profile

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COMPANY VISION TO BECOME : THE MOST RESPECTED, FASTEST GROWING ENERGY PRODUCER IN INDONESIA BY CREATING COMPETITIVE AND BALANCED VALUE FOR OUR INVESTORS, OUR EMPLOYEES,THE COUNTRY AND THE COMMUNITY

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COMPANY MISSION

THE ROAD TO SUCCESS LIES IN GAININGTHE RESPECT OF, AND BEING THE PARTNERS OF CHOICE FOR, ALL OF OUR STAKEHOLDERS.WE WILL WORK DILIGENTLY TO GAIN THE RESPECT OF OUR INVESTORS, OUR EMPLOYEES, OUR PARTNERS, THE COUNTRY AND THE COMMUNITY BY BEING THE BEST AT WHAT WE DO

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BRIGHT STAR BALANCE VALUE FOR STAKE HOLDER RESPECT PEOPLE

INNOVATIVE AND ENTREPRENUERIAL GO EXTRA MILES HONESTY AND INTEGRITY TEACH YOUR SELF DAILY SAFETY, HEALTH AND ENVIRONMENT TEAM WORK AWARNESS OF COST RELATIONSHIPS ARE IMPORTANT 11

Star Energy Profile  STAR ENERGY established in April 2003.  On 18 September 2003, Star Energy purchased of 31.25 %

stake and operating control in a producing oil and gas field, KAKAP PSC Block, in the Natuna sea.  In November 2004, Star Energy took over Magma Nusantara Ltd., which operate 110 MW geothermal power plan at Wayang Windu of West Java. Just finished with installation 2nd Unit for 117 MW and fully in commercial operation in March 2009. Current capacity now become 227 MW. Effective February 24, 2009 Magma Nusantara Ltd now became Star Energy Geothermal (Wayang Windu) Limited  At present, Star Energy also has 100% share in the exploration of Banyumas PSC Oil & Gas Block (Awarded in 2005), 100% share in the exploration of Sebatik PSC Oil & Gas (Awarded in 2006) Block of East Kalimantan, and 100% share in the exploration of Sekayu PSC Oil & Gas Block of South Sumatera (Awarded in 2007)  February 2009, awarded another Jailolo Geothermal field at 12 Province. Halmahera Regency of Maluku

Who Are We? -Star Energy Holdings Pte Ltd Key Highlights World-Class Geothermal Assets  100% working interest and Operator since 1994  400 MW contract through 2036  Near term expansion with Unit 2 under construction and Unit 3 & 4 in development  Operating Availability >98%; 24MWe steam/well

Experienced Operations Team & Market Leader in Project Delivery  Consistently beat budget production/ project delivery in the past few years

Financial Strength  Consistent operational profitability

SEHPL

 Good liquidity ratios  Strong Capital Structure

 Experienced Operational and Project Management Teams

 Strong financial support commitment from Shareholders

 Subsurface excellence track record

Attractive Oil & Gas Portfolio With Significant Upside  Operator ship in three blocks  One producing block with 8.7 yr Reserve to Production ratio  Three promising exploration blocks located near other producing blocks

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Star Group – Corporate Structure

Star Energy 100%

100%

Shareholders include : Ashmore Holdings, more than US$ 50 billion in asset under management and portfolio of energy assets that include ex-Enron assets. Barito Pacific, one of the largest Indonesia conglomerates with market capitalization of Holdings Rp21 trillion

100%

75%

100%

Star Energy (Kakap) Ltd.

Magma Nusantara Ltd

Star Energy (Banyumas) Ltd.

Star Energy Sentosa (Sebatik) Ltd

Star Energy (Sekayu) Ltd

31.25% working interest in Kakap PSC

100% Wayang Windu Project

100% working interest in Banyumas PSC

100% working interest in Sebatik PSC

100% working interest in Sekayu PSC

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Star Energy Location 100° E THAILAND

106° E

112° E

118° E

124° E

130° E

136° E

12° N

PHILIPPINES

SOUTH CHINA

KAKAP PSC. 6°N

SEA

SEBATIK PSC.

Philippines Malaysia

BRUNEI DARUSALAM

ARUN

Kinabalu

Banda Aceh

Sandakan

S A B A H

Bandar Seri Begawan

Philippines Indonesia

Pangkalanbrandan

Medan

NATUNA

Jailolo

SIMEULUE

Kuala Lumpur Toba Lake

C E L E B E S

SARAWAK

S E A

P ACI FI C

OCEAN

Manado

SINGAPORE

Kuching

BATAM BINTAN

HALMAHERA

NIAS

Pekanbaru

0°

BATU

Pontianak

SINGKEP

Padang

Samarinda

KALIMANTA N

BIAK Balikpapan

PELENG

Palu

SULA YAPEN

SIBERUT

MISOOL

Jambi Palangkaraya

PAGAI

SULAWESI Jayapura SERAM

Banjarmasin

BANGKA BELITUNG

I R I A N

BURU Ambon Kendari

J A V A

SEKAYU PSC.

S E A BUTON

Tanjungkarang Ujungpandang BAWEAN

ENGGANO

6° S

B A N D A

S E A

KAI

ARU

Jakarta

J A Y A

Indonesia Papua New Guinea

Palembang Bengkulu

KANGEAN

Bandung

Semarang

Surabaya

TANIMBAR

KOLEPOM

JAVA Yogyakarta

ARAFURA S E A

BALI LOMBOK Denpasar Mataram

I N D I A N O C E A NWAYANG WINDU

SUMBAWA

BANYUMAS PSC.

FLORES

Dili

Kupang

starenergy

Star Energy

12° S 0

Kilometers

500

MAP LOKASI Dir:\Drawings\Wayang Windu\Jailolo.dsf

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star energy

STAR ENERGY Kakap

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Description of Kakap PSC

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

Located in Natuna Sea, Indonesia, 486 km NE of Singapore and 1247 km North of Jakarta.



Covers 2000 square kilometers in 2 separate blocks with 9 oil and gas fields (4 platforms and 5 subsea tiebacks).



Has long-term contract with GOI until March 2028 (original contract was from 1975 until 2005 and has been recently extended)



Current PSC parties include Star Energy (31.25%), Novus/Medco (25%), Premier (18.75%), Singapore Petroleum (15%) and Pertamina (10%).

West Natuna Transportation System

CONOCOPHILLIPS INDONESIA BLOCK ‘B’ = 43.1 % PREMIER OIL – BLOCK ‘A’ = 36.9 % STAR ENERGY – BLOCK KAKAP = 20.0 % 18

Description of Kakap PSC - Location Map



All fields located in South Kakap Block



Has 9 Producing fields (4 platforms and 5 subsea tiebacks) 19

Facilities and Infrastructure - Schematic



All oil piped to FPSO for processing and storage



Gas processed at KF platform before shipping to Singapore via WNTS pipeline



Sales gas currently coming from KH and KRA fields 20

Facilities and Infrastructure – FPSO

Start up Cargo Capacity Process Capacity Current Staff Accomodation

: : : :

March 1986 650,000 Bbls 25,000 BOPD 2,250 BOPD 20,000 BWPD : 53 : 87

$16.5 mm Refurbishment 2001-2004 2003 : $3.9 mm 2004 : 2.4 mm

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Facilities and Infrastructure - Kakap Platforms KH Platform

KG Platform

KF Platform

KRA Platform

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star energy

STAR ENERGY Wayang Windu

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 LOCATIONS

Pangalengan - West Java ± 40 km south of Bandung  ELEVATIONS

+1700 meter from sea level  AREA

14,400 ha Resource area 96 ha Tea Plantation 11.2 ha Forestry area

Salak Kamojang

Wayang Windu

Wayang Windu Power Station

Patuha

Darajat 24

Karaha Bodas

Facilities – Steam Field Total Wells are 39 wells: - Reservoir temp. 260°C to 325° - Depth range 1300 m to 2500 m 14

Production Wells

Supplying steam for Unit 1

5

Injection Wells

Sufficient for Unit 1& Unit 2

5

Slim Holes

3

Abandoned Wells

6

Non-Commercial

2 temporary abandonment

6

Production wells

New wells for Unit 2

Steam Lines (17.5 km, 36”, 42”, & 48” dia.) Operating pressure 10 to 14 bar Operating temperature 190°C Injection Lines (16 km, 18”,24” & 30” dia.) Operating pressure 10 barg Operating temperature 180°C 25

Power Station Turbine manufacturer - Fuji Electric Co., Ltd output 110 MW and 117MW gross Single casing, dual flow, double exhaust Rated steam pressure 10.2 bar Rated steam temperature 180.7 °C Length of last stage blade 27 inch.

Generator Unit Manufacturer - Fuji Electric Co., Ltd Synchronous, Brush Less type output 137,500 kVA voltage 13.8 kV

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Power Station Main Transformer 13.8 kV ~ 150 kV Capacity 92 / 134 MVA (ONAN / ONAF)

Condenser Direct contact, spray jet type Circulating water flow 16,700 3 m /hour Steam flow 718,663 kg/hour

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Power Station

Gas Removal System 2 x 50% hybrid system type 1 x 50 % ejector type (back up) NCG flow 14,667 kg/hour

Hot Well Pump Vertical centrifugal canned type Capacity 10,200 t/h, 2 x 50%

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Power Station Cooling Tower - fans 2 x 8 Cell

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FACILITIES-STEAM ABOVE GROUND FACILITY SCRUBBER (Vessel) Capacity 4 x 65 MW

U-1

U-2 U-2 U-1

SEPARATOR (Vessel) Capacity 6 x 48 MW 30

2009 KEY ACTIVITIES  CONTINUE UNIT 3 WAYANG WINDU PROJECT,

     

DESIGN FOR 120 MW SINGLE UNIT. COMPLETION TARGET BY 2012 DRILL SEBATIK PSC EXPLORATION BLOCK DRILL SEKAYU PSC EXPLORATION BLOCK GRAVITY SURVEY BANYUMAS EXPLORATION BLOCK BEGIN WITH A SURVEY AND EXPLORATION ACTIVITIES IN THE NEW JAILOLO AREA ACTIVELY PARTICIPATE IN THE COMING GEOTHERMAL TENDER BY GOVERNMENT SEEKING APPOINMENT FROM GOVERNMENT TO PERFORM A STUDY FOR A GEOTHERMAL PROSPECT IN EAST JAVA PROVINCE 31

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Star Energy YOUR PARTNER OF CHOICE VISIT OUR WEBSITE :

WWW.STARENERGY.CO.ID

THANK YOU 33