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• To the maximum extent permitted by law, the Company, its affiliates, subsidiaries and partners, and each of their agents, directors, officers, consultants, advisors, contractors, assigns, partners and employees will not be liable for any claims, costs, liabilities, expenses, equitable or statutory damages or compensation, indirect, special, incidental, exemplary or consequential damages or loss of profits whatsoever, arising out of the use or access of, or any inability to use or access, or reliance upon, all or any part of this presentation or the data or information contained therein. The Company reminds the recipient of this presentation, including oral, that the oil and gas exploration and production industry is a high-risk industry, and that external factors can cause rapid changes in valuations and projections and independent professional advice should be sought prior to investing in any type of traded security.

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• By attending the presentation, in whole or in part, and/or by accepting any copy of the materials presented, in whole or in part, in any form including hard copy or by email, you and any recipient of this presentation as aforementioned are deemed to have agreed to be bound by the foregoing statements and disclaimer and to have agreed to release the Company from any obligation, liability or cause of action of any kind or character that may arise as a result of receipt of this presentation or materials associated with, arising out of or accompanying this presentation. The use of this presentation by any person, party or entity, and this disclaimer, are governed by and construed in accordance with Singapore law and you irrevocably submit to the exclusive jurisdiction of the courts of Singapore.”

Ramba E&P Strategy

• Focus to onshore operation.

• Focus to Western Indonesia due to infrastructure concerns.

• Focus on producing asset and/or near production.

Jatirarangon Field(TAC)

2018

COMPANY PROFILETAC P–ELLIPSE ENERGY JATIRARANGON WAHANA LTD

• Status : Technical Assistance Contract (2000 – 2020)

• Contract Area : 123 Sq KM (Located +/- 50 KM SE of Jakarta)

• Active Well : JRR#1, JRR#2, JRR#3 ST, JRR#4, JRR6 & JRR7

• Produced : Cibulakan (CBA); Cisubuh(CSB-3); Parigi and Baturaja Zones

• First Gas Delivery : 6 October 2004

• Gas is piped ~ 6.7 km to the Pertagas trunk line

• Operatorship History

– First Gas Delivery : 6 October 2004

– Ramba Energy Ltd : 30 March 2010 - now

– Ellipse Energy Jatirarangon Wahana Ltd : 1 Nov 2002 – 29 March 2010

– PT Wahana SAD Karya, : 22 May 2000 – 30 Oct 2002

– PERTAMINA DOH JBB : up to 21 May 2000

• Drilling JRR-1 and JRR-2 wells : 1992/1993

– BPM (Dutch Oil Company) : 1938

• Drilling CCH-2, CCH-3 dan CCH-4 wells

Ellipse Energy Jatirarangon Wahana Ltd.

Jatirarangon Contract Area

CCH-02

CCH-03

0 2 Km.

4.3 km

1.3 km

2.0 km

JRR-02

JRR-01

4.2 km

JRR-03/ 03ST

Surf. Location

JRR-04

100

200

227

73C

CH

01

-12

73C

CH

03

0

200

200

300

348

82C

CH

08

200

300

353

82C

CH

04

69

82CCH 05A

10

0

200211

82CCH 05A

300

370

82CCH 05

200

300

337

82C

CH

06

20

0

300

400

5005

18

88

83C

CH

14

100

200

300

341

83

CC

H 1

4

200

300

40

0

200

300

340

82C

CH

10

88

83CCH 11

100

200

300

400

500

76

100

200

300

396

83C

CH

12

8383CCH 13

10

0

20

0

300

40

0

50

0

50

8

83CCH 13

200

300

400

451

89

TR

W 0

1

300

383

84C

CH

14A

1300

1400

1500

1569

89

TC

S 1

1

200

276

73CCH 02

8973CCH 02B

100

140

73CCH 02B

810

820

830

840

850

860

870

880

890

900

910

920

930

940

950

960

963

88TC

S 0

3

11288TWR 06

12

0

13

0

140

150

16

0

170

180

190

20

0

21

0

22

0

230

240

25

0

26

0

270

280

290

30

0

31

0

32

0

330

340

350

36

0

37

0

440

450

460

470

480

490

500

510

520

530

540

550

560

570

580

590

600

610

620

630

640

650

660

670

680

690

700

710711

88TC

S 0

5

100

388TCS 10

10

10

102

0

1030

10

40

105

0

10

60

107

0

108

0

109

0

11

00

111

0

112

0

113

0

114

0

11

50

116

0

117

0

11

80

11

90

12

00

12

10

12

20

12

30

12

40

125

0

12

60

127

0

12

80

12

90

130

0

13

10180

190

200

210

220

230

240

250

260

270

280

290

300

310

82CCH 07

320

330

340

350

360

370

380

390

400

410

420

430

433

88T

WR

03

PEMDA

BEKASI

82CCH-08

JRR-05 Prop. Loc.

Subsurface InformationJatirarangon TAC Depth Structure

Western Pool:

Already

Producing

Eastern Pool:

Step out, cancelled

due to land issues

Key Wells

Daily Gas Production

Near Future Plan

► Drill 4 more delineation wells, targeted into Talangakar and Jatibarangreservoirs.

► Expect initial production 300 BOPD from each well (as evident in JRR-03 junk well) + 0.3 MMSCF solution gas per day.

► Pay out time less than 3 years, just about on the TAC expiration in 2020 (block extension is crucial)

Production Forecast add 3 Oil Wells

TAC Expiration

Economic Summary (4 wells)

M US$ 137,565

1 Total Cost M US$ (69,589)

2 Contractor Take M US$ 83,443

3 Pertamina Take M US$ 18,980

4 Government Take M US$ 35,142

NPV M US$ 5,267

IRR % 33

POT Years 2.75

Total Gross Revenue

Revenue Distribution

Remaining Reserves, West Closure

Upside Potential

• Baturaja (Oil Play), proven in JRR-3

• Reserves & Resources:

o Western Closure: Proven OOIP 3.91 MMBO, Est. RF =21%

o East Closure: Possible OOIP 9.74 MMBO, Est. RF = 21 %

• Deeper Horizons:

o Talang Akar Formation

o Jatibarang Formation

Production Flow (REJW Gas)

Well / FieldCompressor

Tegal Gede Gas Station

Trunk Line Operated by Pertagas

Production Flow (REJW Oil)

Well / FieldGathering Station (Field)

TruckingBalongan Tank Farm

West Jambi KSO

2018

. SINGAPORE

WEST JAMBI BLOCK

RAMBA ENERGY WEST JAMBI LOCATION

AREA I

AREA II

AREA I

AREA II

West Jambi Block

103° 30’00”E 103°40’00”E103° 10’00”E

01°20’00”S

01°30’00”S

01°40’00”S

103° 20’00”E

RAMBA ENERGY WEST JAMBI LTD.

CONTRACT AREA

WEST JAMBI BLOCK

KSO P–RAMBA ENERGY WEST JAMBI LTD

• Status : KSO (Joint Operation) Contract (2011 – 2031)

• Contract Area : 1099 Sq KM (mostly in plantation area)

• Location : Jambi province, Sumatera, 65 km north west of Jambi city by road)

• Total Well Found : 13 wells ((drilled by Ducth-11, Stanvac-1, Pertamina-1)

• Active Wells : 2 wells (TO-3 and TO-6),

• Non Active Wells : 11 wells

• Luiquid Production : 6 – 10 BOPD

• Operatorship History

– Discovered by Dutch in 1938

– Currently 2 wells (TO-3 and TO-6) are producing (by Pertamina)

– Shot 300 km 2D Seismic & Drilled 1 exploratory well, suspended gas well.

• Future program for the next 2 years : Drill 6 Shallow Hole Continuous Cored

well as part of subsurface risk management, shoot Seismic 3D (180 km),

Exploration Drilling : 1 well (as part of the commitment)

• Existing production is oil from the shallow formation (150-200 m), with a gas

potential in deeper formation (800 m).

Production Flow (West Jambi Oil)

Well / FieldGathering Station (Field)

TruckingTempino Tank Farm

Three-Year Working CommitmentFirst Year

G&G Studies: 12 Months 600 M

2-D Seismic Acq: 100 km 1,500 M

2-D Seismic Reprocessing: 300 km 150 M

3-D Seismic Acq: 180 km sq 7,200 M

Sub-Total: 9,420 M

Second Year

G&G Studies: 6 months 180 M

Exploration Drilling: 2 Wells 6,000 M

Sub-Total: 6,180 M

Third Year

G&G & R 600 M

2-D Seismic Acq: 200 km 3,000 M

Sub-Total: 3,600 M

West Jambi Resources (P50 Case)No Structure Oil (OOIP,

MMBO)Gas (OGIP, BCF)

1 KUSUMA 315.67 731.33

2 ESE-KUSUMA 46.00 170.35

3 TOBA OBI 70.40

4 LEAD-1 81.12

5 LEAD-2 113.38

6 LEAD-3 81.12

7 LEAD-4 98.83

8 LEAD-5 39.75

9 LEAD-6 91.97

10 LEAD-7 24.30

TOTAL MAPPED RESOURCES 432.07 1432.15

Leads and Prospects

• 5 Prospect identified

• Several leads

incorporating the

multiple reservoir target

PROSPECT - KUSUMA

SENW

Near Top

Gumai

Near

TopTAF

Near Top

Basement

07 JU-08

Near Top

Lower TAF.

Sand TO-8/

148m

REWJ-1

Prospect- A

07JU-05

SWNE

Near Top

Gumai

Near Top

Lower TAF

Near Top

Basement

Sand TO-8/

148m

Near

TopTAF

Prospect- A

PROSPECT – PUSPITA

NW

07JU-03

SW

Near Top

Gumai

Near

TopTAF

Near Top

Basement

Near Top

Lower TAF.

Sand TO-8/

148m

Prospect- C

REWJ-3

SE

07 JU-10A

SENW

Near Top

Gumai

Near

TopTAF

Near Top

Basement

Near Top

Lower TAF.

Sand TO-8/

148m

Prospect- CREWJ-3

Near Future Workplan

• Drill 6-12 Shallow Continuous Core (SHCC) hole to cost efficient enable subsurface risk management

• Shot commitment 3D based on SHCC finding• Drill 1 commitment exploratory well• Drill 1 delineation well and 4 more development wells

(target 1600 BOPD initial production)• Put oil production into Early Production Facility• Use trucking to lift the production to nearby Pertamina

tank farm in Jambi (approx 150 km).• Project economic looks good, ROI > 30%.• Payback period less than 3 years.

Forecasted Production Profile

Forecasted Project Economic Summary

M US$ 343,660

1 Total Cost M US$ (164,001)

2 Contractor Take M US$ 190,065

3 Pertamina Take M US$ 46,461

4 Government Take M US$ 107,134

NPV M US$ 10,130

IRR % 37

POT Years 2.14

Total Gross Revenue

Revenue Distribution

LEMANG PSC (OPERATED BY MANDALA)

Current Status

• Exploitation & Production stage

• Remaining firm commitments: 2D seismic and 2 exploration wells

• Step out wells drilled on Akatara Structure proved that the structure is more gas prone (better terms)

Lemang PSC (2007 to 2037)

37

Muara Sabak

Oil Terminal

LUPAK-1

LUPAK-2LUPAK-3

BERKAH-1

JINAWI-1

LAMBUR-1

HARJA-1

MANISMATA-1

BEREMBANG-1

BEREMBANG-2

BEREMBANG-3

A. MENDAHARA

TUBA OBI EAST-1

TUBA OBI-

8PEMATANG LANTIH-1

NAPAL-1

-1

RONDAMAN-1

LEMANG-1

GANGSAL-1

BETUNG-1

SOUTH SUMATRA KITCHENJAMBI CITY

01°00’E

Berhala Strait

-

-

SABAR-1

-KAJEN1

SARINAH-1

TUNGKAL-1

TIUNG-1

TIUNG-2

N0 10 20

KM

- -3

BERKAH-1

JINAWI-1

LAMBUR-1

HARJA-1

MANISMATA-1

BEREMBANG-1

BEREMBANG-2

BEREMBANG-3

A. MENDAHARA

TUBA OBI EAST-1

NAPAL-1

1

RONDAMAN-1

LEMANG-

RETIH-1RETIH-1

GANGSAL-1

BETUNG-1

SOUTH SUMATRA KITCHENJAMBI CITY

01°00’E

LEGEND :

OIL FIELD.

GAS FIELD.

LEAD.

SABAR-1

-

-1

-

-

-1

SARINAH-1

TUNGKAL-1

TIUNG-1

TIUNG-2

0 10 20

KM

0 10 20

KM

0 10 20

KM

Petrochina

JABUNG BLOCK

WJK-1 prospect

Akatara

field

Riau Province

Jambi Province

SIANTANG-1

RUKU-1

GEBANG-1

SMD-1 prospect

ARM-1 prospect

-

--

TEBING TINGGI

37

SABAR

MARMO

Lemang PSC

70 Km

DEVELOPMENT DRILLING UPDATESPOST PAD A & B AND AKT-C1

38

Akatara-2 Akatara-A3Akatara-1 Akatara-B3 Akatara-B2 Akatara-

BWI1Selong-1

LKO

-5,343

ftSS

Akatara

West

Akatara

Center

Akatara

East

Selong Akatara

East

LKO

-5,441

ftSS

LKO

-5,412

ftSSLKO

-5,464

ftSS

LKO

-5,513

ftSS

LKO

-5,506

ftSS

LKG

-5,399

ftSS

LKG

-5,343

ftSS

UTAF

UTAF B

UTAF C

LTAF F

LTAF G

UTAF

UTAF B

UTAF C

LTAF F

LTAF G

UTAF

UTAF B

UTAF C

LTAF F

LTAF G

LTAF F

LTAF G

UTAF

UTAF B

UTAF C

LTAF F

LTAF G

Latest

LKG

-4,776

ftSS

Old LKG

-4,717

ftSS

-

5,603

LTAF F

Depth Map

A’Akatara

West Akatara

Center

Selong

Akatara

East

A

A’A

B’

B

• LTAF F3 LKG @ Akatara-B3 (5,343

ftSS) is lower than LTAF F3 HKO @

Akatara-C1 (5,314 ftSS).

• LTAF G LKG @ Akatara-B2 (5,399

ftSS) is lower than LTAF G LKO @

Akatara-C1 (5,366 ftSS).

• Based on those facts, it is unlikely that

both sand in Pad C area is connected

to Pad A & B area. This is also

supported by pressure test analysis.

PROVEN ADDITIONAL GAS RESERVES IN UTAF

POST PAD A & B DEVELOPMENT DRILLING• Post Pad B Wells (AKT-BWI1, AKT-B2, B3)

➢ Seismic Vp/Vs is good sand distribution indicator (esp. for UTAF and LTAF)

➢ AKT-BWI1 penetration in UTAF B confirmed deeper Lowest Known Gas (LKG)

▪ Pre-Drill: LKG @ 4717’ SS, Est. GWC @ 4756’ SS

▪ Post Drill: Confirmed that based on log and MDT data in BWI-1, LKG in UTAF B is deeper by at least 59 ‘SS (up to 4776’ SS), Potential gas column ~170ft

➢ Gas also discovered in UTAF E, LTAF F and LTAF G, yet currently it is not being counted into current reserve update. This will potentially promote more gas reserves in the future.

39

A

B

THANK YOU