Review and Validation of Hydrocarbon In-Place, Reserves and Recoverable Resource Estimates for the Nunukan PSC

Carried out a validation based on reports related to the reserve and resource certification and draft plan of development for the Badik, West Badik and Parang fields in Nunukan PSC. Reviewed reports and materials related to the reserve and resource estimations of these entities:

1. LAPI
2. GCA
3. Plan of Development
4. LEMIGAS

Reviewed and commented on the reserve and resource evaluation methodology of the certification agency including critiquing the following elements:

1. Lithology, sand to sand correlation and hydrocarbon contacts
2. Wireline logs and core details
3. Gross depositional environment
4. Petrophysical parameters and analysis
5. Hydrocarbon indications in MDT and wireline
6. DST results
7. Seismic inversion analysis
8. Structural Gridding and property modelling
9. Development strategies including number and position of wells
10. Well completion strategies
11. Dynamic modelling and history matching
12. Calculation of reserve and resources