Ann: Onshore Indonesian Oil Operations Update - February 2019, page-4

Great announcement to further confirm the steady and consistent oil production.

I have a few rough calculations on production, and this is only my opinion and thoughts and in now way wish to be giving advice. im clearly bullish on BAS

We are on a Jan-Dec yearly and with production optimisation completed late 2018 it’s perfect timing to give us a full and steady production year 2019.

700 barrels per day until Jun 30 = 181 days
700x181 = 126,700
-45% partner share
=69,685 barrels, BAS 55% share

For my calculations only $57.50 average oil price over the first 6 months gives us $4million and always hoping for more.

Now this gets a little fun, Mr Tino has mentioned great figures of what may be possible from Bunian 5 based on what Bunian 3 was capable of producing when first drilled, Upto 1700 barrels per day.

Factoring in time to get Bunian 5 up and producing I’ll be conservative and put it at 700 barrels per day. Also to mention it may be possible to drill one more well this year.

adding the existing production to bunian 5 is 1400 barrels x 184 remaining days in the year
= 257,600 barrels
-45% partner share
= 141,680 barrels, BAS 55% share
X 57.50 = $8,125,000

Total for the year $12,125,000.Looks like a great 2019

IMO that is enough to set the company up for the share price to start rewarding shareholders but please for entertainment purposes do these same calculations with Bunian 5 at 1700bopd plus the bonus well at 500bopd plus our existing production put on pumps and it may start to give you an indication as to why Mr Tino keeps saying he is very exited in every interview, very wide range there and realistic would be somewhere in between I'm wildly guessing.

good luck to all holders look forward to anyone else’s rough calculations