PT Energi Mega Persada Tbk.

1H 2011 Productions & Financial Results 8 August 2011

Forward Looking Statements

This presentation has been prepared by PT Energi Mega Persada Tbk (the Company) and is only for the information of its investors. None of the information appearing in this presentation may be distributed to the press or other media or reproduced or redistributed in the whole or in part in any form at any time. This presentation is not intended as or forms part of any offer to sell or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, and neither this presentation nor anything contained herein shall form the basis of or be relied on in connection with any contract or commitment whatsoever. This presentation may contain forward-looking statements and estimates with respect to the future operations and performance of the Company and its affiliates. Investors and security holders are cautioned that forward-looking statements are subject to various assumptions, risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. Such assumptions, risks and uncertainties could cause actual results and developments to differ materially from those expressed in or implied by the forward-looking statements. Accordingly, no representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained in this presentation, nor is it intended to be a complete statement or summary of the resources markets or developments referred to in this presentation. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Neither the Company or any other person assumes responsibility for the accuracy, reliability and completeness of the forward-looking statements contained in this presentation. The forward-looking statements are made only as of the date of this presentation. The Company is under no duty to update any of the forward-looking statements after this date to conform such statements to actual results or developments or to reflect the occurrence of anticipated results or otherwise. Any opinions expressed in this presentation are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of the Company as a result of using different assumptions and criterion.

Energi Mega Persada

Company Overview
Net 2P Reserves Breakdown

531 millions boe of net proved and probable reserves. 97 millions boe of net contingent resources (2C) and 152 millions boe net best estimate prospective resources.

Probable Oil 19 millions boe (4%)

Proved Oil 22 millions boe (4%)

1H 2011 production of 7,059 barrel/day of oil and 47.9 millions cubic ft/day of natural gas on a working interest basis.
1H 2011 revenues of Rp 865 bio ($ 99 mio) (1) and EBITDA of Rp 380 bio ($ 44 mio).(1)

Probable Gas Proved Gas 1,436 billion cubic feet 1,507 billion cubic feet (45%) (47%)

Total Net 2P Reserves: 531 millions boe (41 millions bbl Oil; 2,943 billion cubic ft Gas)
Note: (1) Based on Bank Indonesia exchange rates of IDR 8,747 (2) boe = barrel of oil equivalent Source: Company presentation . Note: As of 31 December 2010.

Energi Mega Persada

Assets Overview
Gebang JOB PSC
Stake: 50% 2P Reserves: 19.2 bcf 1H 11 Prod: 20 bbl/day; 0.7 mmcf/day Operator: JOB Pertamina Costa Partner: Pertamina (50%)

Malacca Straits PSC

Stake : 60.5% 2P Reserves: 22.7 mmbbl, 13.2 bcf 1H 11 Prod: 4,284 bbl/day; 5.7 mmcf/day Operator: EMP Partner: CNOOC (39.5%)

Sungai Gelam TAC

Stake : 100% 2P Reserves: 3.0 mmbbl 1H 11 Prod: 476 bbl/day, 0.8 mmcf/day Operator: EMP

Semberah TAC
Stake : 100% 2P Reserves: 10.5 mmbbl, 43.2 bcf 1H 11 Prod: 848 bbl/day, 7.9 mmcf/day Operator: EMP

Tonga PSC
Banda Aceh

South China Sea

Medan Singapore
Duri
KALIMANTAN Java Sea

Celebes Sea

Sangatta-2 CBM PSC Tabulako CBM PSC

Net 1P Reserves Net 2P Reserves

273 mmboe 531 mmboe

Gresik

Molucca Sea

JAKARTA

INDONESIA

Banda Sea

Banda Sea

Bentu PSC
Stake : 100% 2P Reserves: 289.8 bcf 1H 11 Prod: 12.6 mmcf/day Operator: EMP

Korinci Baru PSC

Stake : 100% 2P Reserves: 58.2 bcf 1H 11 Prod: 4.8 mmcf/day Operator: EMP

Kangean PSC
Stake : 50% 2P Reserves: 4.8 mmbbl, 672.6 bcf 1H 11 Prod : 1,431 bbl/day, 15.4 mmcf/day Operator: KEI Partners: Mitsubishi (25%)(1), Japex (25%)(1)

Masela PSC
Stake : 10% 2P Reserves: 33 mmbbl(2), 1,846.8 bcf LNG and Condensate production expected to start in 2018 Operator: Inpex Partner: Inpex (60%), Shell (30%)(3)

Note: bcf mmbbl bbl/day mmcf/day

= billion cubic feet = million barrels = barrel oil/day = million cubic feet/day

4 4

Energi Mega Persada

Board of Directors
Imam P. Agustino, President Director - CEO
23 years of experience in upstream and downstream oil and gas industry. He spent his career from exploration to production, with special expertise in Project Management and Business Development. In the last 10 years as top executive positions in local and international oil and gas companies, including few years with Trafalgar House UK ( Kvaerner ), and other oil and gas companies.

Didit A. Ratam, Director - CFO

Has held finance positions within oil and gas upstream and services companies throughout his career. Previous professional experience in such companies as Mobil Oil (Fairfax, VA), Gas Venture Advisers (Boston, MA) and Federal JWR Pte.Ltd.

Amir Balfas, Director - COO

A geologist by background and brings more than 28 years of upstream oil and gas experience to the Company. Spent over 20 years at VICO Indonesia East Kalimantan Block, and joined EMP Malacca Straits in 2001.

Syailendra Surmansyah Bakrie, Director

Over 10 years experience in the financial relateds sector, which includes merger & acquisition, financial restructuring, and other capital market transactions. Management positions with Capital Managers Asia and Bakrie Kalila Investments in the past 8 years. 5
Energi Mega Persada

Management Team Improving the Production & Financial Results

Balance sheet De-Leveraging (Improved Debt to Equity Ratio)

Financial Results Projects

Turn Around (EBITDA Growth)

Commisioning (Production Rate Increase) Gas Price

Competitive Positive Reserve

Reserve Replacement Ratio Growth EV/Reserve Value

Energi Mega Persada

Competitive

Balance Sheet De-leveraging

The right issue proceed is used for balance sheet de-leveraging and capital expenditures and working capital purpose in developing Companys oil and gas operations.
(US$ mio)

2009 450 156 185 3.27x

Adjustments (250) 51 509*

2010 200 207 623** 0.6x

Debt (credit suisse) Debt (others) Total Equity Debt to Equity

*US$ exchange rate for Rights Issue proceeds = Rp 9,337 US$ ** Inclusive of additional paid in capital, deficit, and other adjustments

Energi Mega Persada

Improved 1H 2011 Production & Financial Results

1H 2010*
Net Sales (000) EBITDA (000) Net Profit (Loss) (000) Oil Price Gas Price Oil Production Gas Production
* Based on USD-IDR exchange rate of 9,193 ** Based on USD-IDR exchange rate of 8,747

1H 2011**
US$ 98,955 US$ 43,520 Rp 865,557,760 Rp 380,668,625 Rp 34,701,813 US$ 112.2/bbl US$ 3.6/mcf 7,059 barrel/day 47.9 mmcf/day

US$ 59,112 US$ 14,641

Rp 543,415,355 Rp 134,597,303 (Rp 75,389,017) US$ 79.4/bbl US$ 2.5/mcf 6,500 barrel/day 41 mmcf/day

(US$ 8,201)

US$ 3,967

Energi Mega Persada

Production Growth Outlook

Visible plan to efficiently monetize existing reserves via established infrastructure and proximity to key oil / gas markets

Net Oil / Gas Production Ramp Up

000 boe/day
Kangean PUO Q1 2011 Bentu Seng, Segat RAAP Q1 2011 Kangean Terang Q1 2012 Malacca DC Gas 2012 Bentu Seng, Segat PLN 2012

50.2

13.1

6.4

Near term ramp up to be dominated by gas production

Source: Offering circular. Note: Gas production is converted at 1,030 btu = 1 cf, 6 bcf = 1mmboe.

Energi Mega Persada

Increasing Trend in Realized Gas Price

EMPs Gas Sales Agreements Under Negotiation and Pending Commencement
($/mcf)

Source: EMP

2011 2012

Gas from Bentu PSCs Seng + Segat Fields @ $4.08/mcf Gas from Kangean PSCs TSB fields @ $5.15/mcf (+ additional $0.84/mcf toll fee) Gas from Malacca Strait PSC @ $4.94/mcf

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Energi Mega Persada

Strong Organic Reserve Replacement

We continue assessing exploration acreages with a view to increase reserves Stable O&G Reserves Replacement(1)

Competitive Reserve Replacement Costs(2)

Asiapac Average: US$13.1

(3) Source: Herold (Global Upstream Performance Review 2010), Moodys Investors Service. (1) Addition has been calculated as the difference between production and the change in the reserve balance. (2) 2007 to 2009 3-year average reserve replacement costs. (3) Talismans Asian operations.

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Energi Mega Persada

Acquisition of Masela PSC: Securing Long Term Growth

2P Reserves (Net WI)

millions boe

531

2.38x
223

EMP

EMP + M

Acquisition of a 10% ownership interest in Masela block PSC has increased

EMPs 2P reserves to 531 million barrels.

Source Note : EMP. : WI = Working Interest. Reserves numbers as of 31 December 2010.

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Energi Mega Persada

Large Reserves to be Monetized

Benchmarking EMP with Independent Indonesian-focused O&G Companies(1) (2P millions boe)
(in millions boe)

531 (3)

261

223 millions boe of net proved and probable reserves(2) (2P), 531 millions boe including Masela PSC (2) 97 millions boe of net contingent resources(2) (2C) and 152 millions boe net best estimate prospective resources(2) EMP has a diversified portfolio of fields with multiple oil and gas production horizons 105 reservoirs and 36 fields Most producing assets are on-shore

Source: Company websites and data from Wood Mackenzie. Gas converted at 6 billion cubic feet = 1 million boe. (1) O&G interests in Indonesia only, net of working interest. (2) As of 31 December 2010. (3) Excludes EMP estimate of 33 mmstb of condensate associated with the gas (4) As of 31 December 2009 after adjusting for downward restatement of 7.5 millions boe 2P reserves for Kambuna field.

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Energi Mega Persada

Reserves Table (in million barrels of oil equivalent)

Assets
Malacca Straits PSC
Oil Gas

1P
16 2 0.4 59 24 1 1 4 2 2 163 22 251

2P
23 2 5 112 48 10 3 11 7 3 308 41 490 531

3P
30 2 10 156 76 15 42 23 27 13 549 105 838 943

2C
1 12 6 69 1 7 2 4 93 97 Energi Mega Persada

Kangean PSC
Oil Gas

Bentu PSC
Oil Gas

Korinci Baru PSC

Oil Gas

Gelam TAC
Oil Gas

Semberah TAC
Oil Gas

Gebang JOB PSC

Oil Gas

Tonga PSC
Oil Gas

Masela PSC
Oil Gas

Total
Oil Gas

Grand Total

273

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Masela PSC Overview

Approved Development Concept
Subsea production 18 production

Exploration history:
1999: 2D

system + Floating LNG

seismic

survey
2000: Abadi-1

wells (directional wells from 5

drilling center)
Floating LNG

consists of loading LNG plant, LNG storage tank and loading facility on conventional FPSO on Nov 16, 1998 on

Exploratory well, tested at 25 millions cubic feet/day

Sunrise = 9 TCF (potential FLNG) (1P, pre-FEED)
2001: 3D

seismic

survey
Masela/ Abadi = 9 TCF 2002: Abadi-2 and

Masela PSC was granted

frontier fiscal terms

INPEX Masela Ltd. is the operator PSC location

Abadi 3 Appraisal wells, tested around 15 millions cubic feed/day/ well

2007: Abadi-

in Arafura Sea, deep water in Indonesian territorial waters was approved in Dec 2010 for the Abadi Gas Field

Bayu Undan = 3 TCF (in production to LNG)

Plan of Development

Evans Shoal = 6 TCF (under appraisal)

4/5/6/7 Appraisal wells. All were tested and confirmed existence of gas

Reserves: Abadi Gas Reserves were certified by DeGolyer & MacNaughton (D&M) in Dec 2008: P1 - 9.76 trillion cubic feet, P2 - 8.7 trillion cubic feet The Company anticipates that gross condensate recovery associated with 1P reserves will be 176 million bbls, and associated with 2P reserves will be 333 millions bbls
Energi Mega Persada

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Competitive EV/ Reserves Value

USD/ Barrel

35.0 29.5

30.0

25.0 19.3

23.0

20.0 16.4 15.0

18.4

EV/1P Reserves 13.4 9.7 EV/2P Reserves 12.5

10.0

8.8 7.0 7.3

5.0

3.2 1.7

0.0 ENRG MEDC SANTOS PTTEP INPEX WOODSIDE SOCO INT SALAMANDER

Source: Bloomberg, Annual Reports, Companys Presentations as of Dec, 2010

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Energi Mega Persada

Indonesia in the World of CBM

Indonesias CBM Potential (450 Trillion Cubic Feet) is World Class

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Energi Mega Persada

Key Indonesian CBM Basins

The key basins are in Sumatra (235 trillion cubic feet) and Kalimantan (180 trillion cubic feet)

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Energi Mega Persada

East Kalimantan is a top 3 global CBM province and Bontang means there is no market constraint
Bontangs expected gas shortfall is 1.7 billion cubic feet/day or US$8.4bn per year at LNG prices

Resource and market is key

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Energi Mega Persada

Coal Bed Methane Prospects: (Sangatta-2 PSC CBM)

Located just north of Bontang GIP potential 15 trillion cubic feet, potential recovery rates 30% LNG prices for gas now US$14/mmbtu vs EMP average US$2.5/mmbtu EMP/Bumi 60% Pertamina 40%

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Energi Mega Persada

Coal Bed Methane Prospects: (Tabulako PSC CBM)

Located on top of Arutmin acreage EMP 70% Bumi 30%

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Energi Mega Persada

Achievements in SHE, CSR, GCG

Corporate Performance Rating Program in Environmental Management

(Program Peringkat Kinerja Perusahaan dalam Pengelolaan Lingkungan)

EMP Semberah Green EMP Malacca Strait Blue

EMP Bentu & Korinci Baru Blue

Safety, Health, and Environment Awards in 2010

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Energi Mega Persada

Achievements in SHE, CSR, GCG

Corporate Social Responsibility Award in 2008 (Ministry of Social Welfare) Malacca Strait PSC
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Community Development Awards in 2009 (Ministry of People Welfare Coordinator) Malacca Strait PSC
Energi Mega Persada

Attachments

Gelam TAC Location Map

Stake : 100% 2P Reserves: 3.0 mmbbl 1H 11 Prod: 476 bbl/day, 0.8 mmcf/day Operator: EMP

bcf bbl/day mmcf/day

= billion cubic feet = barrel oil/ day = million cubic feet/ day

25

Energi Mega Persada

Malacca Strait PSC Location Map

Stake : 60.5% 2P Reserves: 22.7 mmbbl, 13.2 bcf 1H 11 Prod: 4,284 bbl/day; 5.7 mmcf/day Operator: EMP Partner: CNOOC (39.5%)

bcf mmbbl bbl/day mmcf/day

= billion cubic feet = million barrels = barrel oil/day = million cubic feet/day

26

Energi Mega Persada

Semberah TAC Location Map

Stake : 100% 2P Reserves: 10.5 mmbbl, 43.2 bcf 1H 11 Prod: 848 bbl/day, 7.9 mmcf/day Operator: EMP
bcf mmbbl bbl/day mmcf/day = billion cubic feet = million barrels = barrel oil/day = million cubic feet/day

27

Energi Mega Persada

Kangean PSC Location Map

Stake : 50% 2P Reserves: 4.8 mmbbl, 672.6 bcf 1H 11 Prod : 1,431 bbl/day, 15.4 mmcf/day Operator: KEI Partners: Mitsubishi (25%)(1), Japex (25%)(1)
bcf mmbbl bbl/day mmcf/day = billion cubic feet = million barrels = barrel oil/day = million cubic feet/day

(1)

Effective interest.

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Energi Mega Persada

Gebang JOB PSC Location Map

Stake: 50% 2P Reserves: 19.2 bcf 1H 11 Prod: 20 bbl/day; 0.7 mmcf/day Operator: JOB Pertamina Costa Partner: Pertamina (50%)

bcf bbl/day mmcf/day

= billion cubic feet = barrel oil/ day = million cubic feet/ day

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Energi Mega Persada

Bentu & Korinci PSC Location Map

Stake : 100% 2P Reserves: 289.8 bcf 1H 11 Prod: 12.6 mmcf/day Operator: EMP

Stake : 100% 2P Reserves: 58.2 bcf 1H 11 Prod: 4.8 mmcf/day Operator: EMP

bcf mmcf/day

= billion cubic feet = million cubic feet/ day

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Energi Mega Persada