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PROJECT UPDATE : PT. IEV PABUARAN KSO COMMENCES WORK - OVER OF PBN - 01 WELL

21 February 2014 - PT. IEV Pabuaran KSO will commence work-over activities at the existing well (“PBN -01”) at the Pabuaran Block (the “KSO Project”) in February 2014. The work-over activities follow the recent well site preparation and will take approximately 14 days to complete. During the work-over activities, the well will be tested for reserves calculations and production flow rate to allow IEV to prepare the necessary surface facilities to bring the well to production.

IEV has also completed the reprocessing of seismic data. The results of the study have potentially identified additional areas and structures the Group can explore within the KSO Project