Project Company	Japex Buton Ltd.
Block	Buton Block (onshore/offshore Buton Island, offshore Southeast Sulawesi)
Interest	Japex Buton Ltd. (Operator) Premier Oil KUFPEC 40% 30% 30%
Activities	Exploration activities in the area have included airborne gravity surveys and data interpretation activities conducted in 2008. We also acquired 318 kilometers of 2D seismic data from June 2008 through January 2009, with data processing activities completed in June 2009. Following this, the exploration well structure was selected based on data interpretation and later geological surveys. In 2011, one exploration well is scheduled to be drilled.

Project Company	Japex Block A Ltd.
Block	Block A Ache
Interest	Medco (Operator) Premier Oil Japex Block A Ltd.   41.6667% 41.6666% 16.6667%
Activities	In December 2007, Japex Block A Ltd. received approval from BPMIGAS, the PS contracting authority of Indonesia, for its development plan for gas fields consisting of Alur Siwah, Alur Rambong and Julu Rayeu in the North Sumatra Block A. We began the FEED process for production facilities in 2008. Because the current PSC for the block expires in August 2011, we are awaiting approval from the government of Indonesia for a contract extension. Meanwhile, we signed a gas sales agreement (GSA) with a government-operated fertilizer plant in December 2007, and an additional GSA with Indonesia's state-owned electric power company in April 2008. We will pursue development activities to start gas production in 2012.

Project Company	Universe Gas & Oil Company, Inc.
Block	Sanga Sanga Block (onshore East Kalimantan)
Interest	BP East Kalimantan Ltd. LASMO Sanga Sanga Ltd. Virginia International Co. Virginia Indonesia Co.(Operator) Opicoil Houston Inc. Universe Gas & Oil Company, Inc. 26.250% 26.250% 15.625% 7.500% 20.000% 4.375%
Activities	Universe Gas & Oil Company, Inc. carries out development and production centered on the four oil and gas fields of Badak, Nilam, Mutiara and Semberah in the onshore Sanga Sanga Block in East Kalimantan.

Project Company	Japan CBM Limited
Block	Sanga Sanga CBM Block (onshore East Kalimantan)
Interest	BBP East Kalimantan CBM Limited Eni CBM Limited Opicoil Energy Virginia Indonesia Co. CBM Limited (Operator) VIC CBM Limited Japan CBM Limited      26.250% 26.250% 20.000% 7.5000% 15.625% 4.375%
Activities	JAPEX, Osaka Gas, Japan Energy Corporation (name subsequently changed to JX Nippon Oil & Gas Exploration as of July 1, 2010) and LNG Japan jointly established Japan CBM Limited on November 30, 2009. On the same day, the company signed a PSC for the onshore Sanga Sanga CBM Block on East Kalimantan in which it won a public tender from the Indonesian Ministry of Mines and Energy. This same block occupies the same Sanga Sanga Block area in which JAPEX owns an interest through Universe Gas & Oil Company, Inc. JAPEX holds a 40.12% stake in Japan CBM Limited making it an equity-method affiliate.Now,Evaluation activities in progress for CBN commercialization.

Project Company	Energi Mega Pratama Inc.
Block	Kangean Block (offshore East Java)
Interest	Kangean Energy Indonesia Ltd. (Operator) EMP Exploration(Kangean) Ltd. 60% 40%
Activities	Kangean Energy Indonesia Ltd. (Operator) is moving forward with development activities at the TSB gas field and production activities at the Pagerungan gas field and Sepanjang oilfield. Production test of Teran gas field, a part of TSB gas Fields, was successful as planned. The company plans to start production on a scale of 300 million cubic feet per day(50,000bbl of cubic oil equivalent.)

Note: Kangean Energy Indonesia Ltd. and EMP Exploration (Kangean) Ltd. are subsidiaries of Energi Mega Pratama Inc.