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The Sokang PSC was signed on 17 December 2010 by Black Platinum Investments Ltd (BPI), a wholly owned subsidiary of BPE. BPI holds a 100% interest in the PSC, and is the Operator.

The Sokang PSC is situated in shallow water in the proven gas generating basin of the East Natuna Sea adjacent to the North Sokang PSC. The Sokang PSC was the site of a three well exploration campaign (Paus S-1, Paus NE-1 & 2) in the early 1970’s which was targeting resources in the Miocene.  All three wells penetrated gas columns with no CO2 detected in the Upper & Lower Pliocene and were deemed shallow gas hazards/not commercial.

BPE management initially acquired the Sokang PSC along with the North Sokang PSC due to the existence of proven by-passed gas and the availability to supply gas at US$6 or higher to (a) the Singapore and Batam gas markets via a new build East Natuna pipeline with a tie-in to the West Natuna Transportation System (WNTS) or  (b) the International LNG market via an FLNG facility, or  (c) the Indonesian domestic gas market via a new build pipeline to Natuna Island, or (d) the Vietnam gas market via a new build pipeline tie-in to the the Red Emperor facilities or (e) eventually be tied into the greater Natuna D Alpha project.

Seismic, Drilling & Other Activities

The Company acquired 800 kms of new 2D seismic in the Sokang PSC in Q2 2012.

Three previous wells were drilled on the Paus structure penetrated gas columns with no CO2 detected in the Upper & Lower Pliocene (<800m). Recent success in the interval above 800 meters in the adjacent East Dara gas discovery provides a low CO2 play analogy for a Paus well. Accordingly, an exploration well is planned in 2017 targeting an unrisked mean exploration prospect, Paus Hitam-1 of P50 878 Bcf in the Lower Pliocene sands at a TD of 878 m.

The Sokang PSC contains the Lemadang and Black Dhalia prospects containing additional gas resources of 736 Bcf in resources which are expected to be the subject of a future exploration program.

A Competent Persons Report has been completed by a 3rd party which certifies 1.6 Tcf of P50 gas resources in the Sokang PSC; Paus Hitam-1 prospect of P50 878 Bcf, Lemadang prospect of P50 659 Bcf and Black Dhalia prospect of 77 Bcf.

Any discovered resources can be commercialized either as a part of the East Dara gas development or a stand-along piped gas project to East Natuna Island.