PT Pandawa Prima Lestari

Lestari
Executive Summary

Objective
PHASE I to increase gas production and sales to 100 MMSCFD or greater by 2025.
DEVELOPMENT
PROJECT OF
KARAMBA FIELD Description of Project Phase
“PROFIT SHARING” a. Phase I: producing natural gas with a daily production capacity of 20
MMSCFD from Karamba Field to supply Refinery Unit V (RU V) Balikpapan
owned by PT. Pertamina (Persero).
PSC CONTRACTOR b. Phase II: increase the daily production capacity of the Karamba Field from 20
& OPERATOR MMSCFD to 45 MMSCFD to supply RU V Balikpapan.
PT Pandawa c. Phase III: producing natural gas with a daily production capacity of 55
Prima Lestari MMSCFD from the Mentawir Field to supply RU V Balikpapan.

WORKING AREA
(BLOCK) Business Model
Wain Investment Method: The Investor provides funds and/or goods and/or services
for all or a part of Work Program and/or Capital Expenditures
LOCATION
KalimantanTimur Phase I Development Project Of Karamba Field – Profit
Indonesia Sharing
Returns on investments and profits are paid according to the terms in
CAPITAL
Production Sharing Contract Wain (PSC Wain). Where during the Cost Recovery
EXPENDITURES
period all investments (Capital Expenditures) are paid according to the Pay Out
ESTIMATION:
TOTAL
Phase I
USD35,566,100
Phase II
USD35,566,100
Phase III
:USD71,132,200
 PT Pandawa Prima Lestari
Executive Summary

Terms And Conditions of Investment:

Will be jointly verified by the Parties using the Market Survey method and
agreed upon before the work and/or procurement services begin,
Excluding Value Added Tax,
Already included:
o Environmental permit fees (costs for making UKL/UPL and/or AMDAL),
o Costs for outreach to stakeholders (Local Government, Security Forces,
and the community),
o Costs for large-scale land acquisition licensing (Public Appraisal
Consultant Fee at Evaluation and Land Acquisition Phase),
o The cost to acquire the land,
o The costs of land certification,
o Construction service permit fees (Building Permit, Environmental Permit
from Local Government or Security Forces, etc.).
The Investor is given the right to place personnel in key positions in the
Finance Department and the Operation Department and/or other
Departments at PT. Pandawa Prima Lestari to secure the investment of The
Investor.
Taxes or interest on investments are borne by each Party.
The validity period of the cooperation agreement is until the minimum
reserves of 37.02 BCF are absorbed or until the end of the First Phase Gas
Sale Agreement with PT. Pertamina (Persero) or until the end of PSC Wain,
whichever is achieved earlier.
If the initial study of the Phase II Project proves that the Karamba Field has
reserves greater than 37.02 BCF PT. Pandawa Prima Lestari shall provide
special offers for The Investor by providing a maximum reserve bonus of
75.01 BCF in addition to the minimum reserves in item d
If the initial study of the Phase II Project proves the Karamba Field has
reserves greater than 112.03 BCF, is capable of producing greater than 20
MMSCFD, and PT. Pandawa Prima Lestari decide to build new production
facilities and pipelines to deliver the additional reserves, PT. Pandawa
Prima Lestari will send an invitation letter in writing to the Investor to
create a cooperation for financing the Phase II Project. If The Investor is not
interested in investing in Phase II Projects or within 1 (one) month from the
invitation received The Investor do not provide any answer, PT. Pandawa
Prima Lestari has the right to self-finance and/or offer Phase II Project
financing to other interested investors.
ECONOMIC ANALYSIS OF PHASE I PROJECT WITH 37.02 BCF RESERVES

No. Parameter Unit Summary

1 Gas Production BSCF 37.02
2 The Average of Gas Price US$/MMBTU 5.42
Gas Price US$/MMBTU 5.42
3 Gross Revenue US$ 218,864,591
4 FTP US$ 21,886,459
· Contr. FTP US$ 0
· Gov. FTP US$ 21,886,459
5 Sunk cost US$ 24,959,812
6 Investment US$ 35,566,099
· Intangible US$ 11,252,187
· Tangible US$ 24,313,912
7 Total of Operational Expenditures US$ 45,597,526
IC US$ 0
8 · Cost Recovery US$ 106,123,437
(% to Gross Revenue) % 48.49%
· Unrecovered Cost US$ 0
0
9 Equity to be Split US$ 90,854,695
· Contr. Equity US$ 48,672,158
· Gov. Equity US$ 42,182,537
ECONOMIC ANALYSIS OF PHASE I PROJECT WITH 112.03 BCF RESERVES

No. Parameter Unit Summary

1 Gas Production BSCF 112.03
2 The Average of Gas Price US$/MMBTU 5.42
Gas Price US$/MMBTU 5.42
3 Gross Revenue US$ 662,284,602
4 FTP US$ 66,228,460
· Contr. FTP US$ 0
· Gov. FTP US$ 66,228,460
5 Sunk cost US$ 24,959,812
6 Investment US$ 35,566,099
· Intangible US$ 11,252,187
· Tangible US$ 24,313,912
7 Total of Operational Expenditures US$ 52,158,734
IC US$ 0
8 · Cost Recovery US$ 112,684,645
(% to Gross Revenue) % 17.01%
· Unrecovered Cost US$ 0

9 Equity to be Split US$ 483,371,496

· Contr. Equity US$ 258,949,016
· Gov. Equity US$ 224,422,480
Pasific Process Engineering
Executive Summary
 WITH TANK WITHOUT TANK
CAPEX CAPEX
Batam 250.222.069.973 Batam 202.422.469.701

Bengkulu 264.433.632.784 Bengkulu 213.769.960.629

JBBU 784.182.710.301 JBBU

Sibolga 319.545.832.784 Sibolga 268.794.160.629

1.618.384.245.842 684.986.590.959

ECONOMIC ANALYSIS SUMMARY

 PT. RIZKI BUKIT BARISAN ENERGI
Executive Summary

Objective
PROYEK BOO/T LPG SPHERICAL TANK DAN LPG TERMINAL
SOUTH WEST
BUKIT BARISAN
Objetive
BLOCK Business
Plan of Development (POD) OBJECTIVE:
Plan
 Gas Monetization (Production Rate : 35 MMSCFD; 13 Years 6 Months)
 Condensate Monetization (4.86 MMBC)
PSC CONTRACTOR
& OPERATOR
PT Rizki Bukit
Description of Project
Plan of Development (POD) SCOPE OF WORK:
Barisan Energi
Workover 1 Exploration Well (Sinamar-2)
Workover 1 Exploration Well (Sinamar-3)
WORKING AREA
Drilling 27 Development Wells
(BLOCK)
Construct Flowline from Production wells to Production Facilities
South West Bukit
Construct Permanent Central Production Facilities (CPF)
Barisan
Construct Pipeline from CPF to Gas Buyer Position
Construct Water Injection Line from CPF to Sinamar 3
LOCATION
Install Booster Gas Compressor in year 2026
Central Sumatra
Basin

FUND
REQUIREMENT
TOTAL
US$104.880.481

GROSS REVENUE
US$938.005.503
 POD I : Economic Parameter Assumption and Result

NO. PARAMETER UNIT UP TO END OF PSC

1 Gas Production (Sales) BSCF 124,04

Gas Price US$/MMBTU 5
Peak and Initial Production /
Year MMSCFD @Year 35 MMSCFD @2020
Production Time Year 2020 - 2038
2 Condensate Production MMSTB 4,9
Condensate Price US$/bbl 65
3 Fund Requirement US$ 104.880.481
4 Gross Revenue US$ 938.005.503
5 Cost Recovery US$ 380.783.534
6 % againts Gross Revenue % 40,60%
7 Contractor:
Nett Contractor Share US$ 131.418.423
% againts Gross
Revenue % 14,01%
IRR % 23,40%
8 Government of Indonesia:
Nett Government Share US$ 425.803.547
% against Gross
Revenue % 45,39%
 PT. Odira Energy Karag Agung
Subsidiary of PTJakarta PPEnergi

Executive Summary

Location Karang Agung, Banyuasin Regency, South

Sumatera
Industry Type Oil & Gas Upstream
Est. Reserves 4.1 MMB0E (Ridho Structure)
Business Output Crude Heavy Oil (APIo 22)
Concession Period 30 Years (2007 – 2037)
Type of Contract Production Sharing Contract (Cost Recovery)
Area Coverage 491,90 Km2
Well Production 3 well (Ridho-1. Ridho-3, dan Ridho-5)
Plan of Development I 28 October 2011
First Oil Production January 2017
Est. Total Investment USD 67,6 Mil.
Oil Price/Bbl Duri ICP – USD 0,41
Cost Recovery Pool USD 54 Mil.
Contractor IRR Projection 12.8 %
Contractor NPV Projection USD 2 Mil.
 Terms and Conditions of Karang Agung Blok
(PT. Odira Energy Karang Agung)

No. Description Notes

1. Transaction Value USD 23 Mil.

2. Value Breakdown USD 19 Mil. of asset value & USD 4 Mil. of acquisition cost

3. Terms of Payment

- Payable Upfront (1st year) USD 11 Mil.

- 2nd Instalment (2nd year) USD 6 Mil.
- 3rd Instalment (3rd year) USD 6 Mil.
Participating Interest PI / Shareholder purchase* (*preferable
4. Type of Ownerships transaction with minimum share purchased on 51% from the total
share)
Shareholder liabilities are proportional to the number of share
5. Liabilities ownership. Term of Payment of existing liabilities referring to
PKPU’s verdict No.187/Pdt.Sus-PKPU/2019/PN.Niaga.Jkt.Pst
Term of Payment & Total Value of
6.
Existing Liabilities
- Tier 1 (Rp 0 – 100 Mil.) Due Date on Rp 889,190,418
th
June 18 , 2020
- Tier 2 (Rp 100 – 500 Mil.) Due Date
Rp 5,175,496,193
on December 18th, 2020)
- Tier 3 (Rp 500 Mil. – 1 Bil.) Due
Rp 7,422,277,571
Date on December 18th, 2021)
- Tier 4a* (Rp 1 – 5 Bil.) Due Date on Rp 17,850,233,235 (For 3rd parties who are willing to accept the
th
June 18 ,2021) 25% discount of total liabilities)
- Tier 4b (Rp 1 – 5 Bil.) Due Date on Rp 4,450,391,824 (For 3rd parties who aren’t willing to accept the
th
December 18 , 2026) 25% discount of total liabilities)
- Tier 5 (Rp 5 – 15 Bil.) Due Date on
Rp 159,071,815,724
December 18th, 2029)
- Tier 6 (Rp > 15 Bil.) Due Date on
Rp 572,057,526,396 (Shareholder loan)
December 18th, 2036)
7. Controlling/Operatorship Operate by the new shareholder (Majority shareholder)

8. Specific Terms and Condition Will be Discussed Later on

 PT. SYAH KAPITAL INDONESIA

Executive Summary

Objective
Le grande ( eks Crystal Garden)
 Penyelesaian Pembangunan TOWER A + Podium
LE GRANDE ( eks  Pembangunan Tower B + C
Crystal Garden)
Description of Project
 Location : Jalan Embong Malang no.45-43, Kelurahan Kedung Doro,
Kecamatan tegal sari, Kota Surabaya, Provinsi Jawa Timur

LOCATION
Embong Malang
Kedung Doro,  Owner : PT.Mas Murni Indonesia Tbk
Tegal sari,  Concept : Mixed-use project. Office Tower, F&B Lifestyle Arcade,
Surabaya, Jawa  Residential Apartment and Hotel dengan basis Syariah
Timur  Square : 9090 m²
 Land Owner : PT.Mas Murni Indonesia Tbk
 System : PT. SYAH KAPITAL INDONESIA mendapat Hak Pengelolaan
FUND  Built operate and sell Tower A+ B+C
REQUIREMENT  Own, operates and sell strata units
TOTAL o Operates retail podium
Rp 2,022,700,000,000 o Obligation to finish the building TOWER A + Podium
construction
o Obligation to Develop the building TOWER B + C
Pembangunan TOWER A + Podium

Pembangunan Tower B + C

FUNDING STRUCTURE CAPEX

Development & Construction Phase Rp 2,011,506,976,328
Facilities Rp 8,700,000,000
OPEX
Manpower (Direct & Indirect) Rp 2,384,275,180
General & Adm Expenditure Rp 108,000,000
Rp 2,022,699,251,508
Rounded FUNDING Rp 2,022,700,000,000
 PT SUMBER SAWIT SEJAHTERA

Executive Summary

Name : PT Sumber Sawit Sejahtera

Established : 2005
Office Address : Mega Glodok Kemayoran, Kota Baru Bandar
Kemayoran
Plant Site : Jl. Lintas Timur Sorek ,Desa Terantang Manuk,
Kec. Pangkalan Kuras, Kab. Pelalawan, Propinsi
Riau
Company Registration
Number : 09.05.1.46.54629
Letter of Business Permit : 59/24.1PB.1/31.71/-1.824.27/e/2016
Tax Registration Number : 02.275.725.6-073.00
CPO Mill Commisioning : March 2008 45/100 Ton per Hour
CPO Mill Extension : November 2011 75/100 Ton per Hour
Production Capacity : 75 / 100 Ton per Hour
Product : Crude Palm Oil
Palm kernel
 PROYEKSI PEODUKSI CPO 2000, 4000, 6000 Ton/ Bulan
ASUMSI HARGA TBS + SUBSIDI TRANSPORT ASUMSI HARGA TBS TETAP
Buah masuk Per hari
(ton) 317.46 634.92 952.38 317.46 634.92 952.38
Kebutuhan TBS/
bulan 9,523.81 19,047.62 28,571.43 9,523.81 19,047.62 28,571.43
Harga TBS (Rp/ kg)
1,775 1,835 1,835 1,775 1,775 1,775
Produksi CPO (ton)
2,000 4,000 6,000 2,000 4,000 6,000
Produksi PK (ton)
480 960 1,430 480 960 1,430
OER CPO (%) 21% 21% 21% 21% 21% 21%
OER PK (%) 5% 5% 5% 5% 5% 5%
Harga CPO (Rp/Kg)
8,929 8,929 8,929 8,929 8,929 8,929
Harga PK (RP/Kg)
4,229 4,229 4,229 4,229 4,229 4,229
Revenue CPO (Rp. …
000) 17,858,000 35,716,000 53,574,000 17,858,000 35,716,000 53,574,000
Revenue PK (Rp. …
000) 2,029,964 4,059,927 6,047,600 2,029,964 4,059,927 6,047,600
Revenue Total (Rp. …
000) 19,887,964 39,775,927 59,621,600 19,887,964 39,775,927 59,621,600
Pembelian TBS (Rp. …
000) 16,904,762 34,952,381 52,428,571 16,904,762 33,809,524 50,714,286
Bi. Oprerasional (Rp.
…000) 1,900,000 1,900,000 1,900,000 1,900,000 1,900,000 1,900,000
Laba Rugi (Rp. …
000) 1,083,202 2,923,546 5,293,029 1,083,202 4,066,403 7,007,314

Note:
- Proyeksi dibuat dengan harga TBS ±Rp. 1.800/Kg dan Harga CPO ± Rp. 9.000/Kg
- Tabel I : dengan asumsi harga TBS + Subsidi transport untuk sumber TBS jaraknya jauh dari PKS
- Tabel II : dengan asumsi harga TBS sama