Hydraulic Fracturing

BUDGET SCHEDULE 2012 2013 2014 2015 2016

I. CAPITAL COST (US$)
1. Tubing 510,000
2. Packer 65,000
Sub Total Capital Cost 575,000
II. NON CAPITAL COST (US$)
1. Hydroulic Fracturing Operation
- Material & Services 765,000
2. Fuel 105,500
Sub Total Non Capital Cost 970,500 0 0 0 0
III. OPERATING COST (US$)
1. Lifting cost 0 830,286.48 392,987.70 228,699.10 150,084.83
2. General Administration
- Finance &Administration 42,770 42,770 42,770 42,770 42,770
- Technical Services 9,828 9,828 9,828 9,828 9,828
- Transportation Cost 8,190 8,190 8,190 8,190 8,190
- Salary & Personal Expenditure 10,920 10,920 10,920 10,920 10,920
- Community Development 9,828 9,828 9,828 9,828 9,828
Sub Total Operating Cost 81,536 911,822.48 474,523.70 310,235.10 231,620.83
TOTAL 1,627,036 911,822.48 474,523.70 310,235.10 231,620.83

ANALISA KEEKONOMIAN
Hydraulic Fracturing (metode Straight line depresiation)
No. Tahun Total Prod. GR Investasi
(STBO) (US$) Cap. (US$) Non Cap. (US$)
0 2012 0.00 0.00 575000 970,500.00
1 2013 49628.6 3,474,002.00
2 2014 23490 1,644,300.00
3 2015 13670 956,900.00
4 2016 8971 627,970.00

total inves 1,545,500.00

0.67
20.43
 Hydraulic Fracturing (metode Decline Balance depresiation)
No. Tahun Total Prod. GR Investasi
(STBO) (US$) Cap. (US$) Non Cap. (US$)
0 2012 0.00 0.00 575000 970,500.00
1 2013 49628.6 3,474,002.00
2 2014 23490 1,644,300.00
3 2015 13670 956,900.00
4 2016 8971 627,970.00

Hydraulic Fracturing (metode Sum of the Years Digit depresiation)

No. Tahun Total Prod. GR Investasi
(STBO) (US$) Cap. (US$) Non Cap. (US$)
0 2012 0.00 0.00 575000 970,500.00
1 2013 49628.6 3,474,002.00
2 2014 23490 1,644,300.00
3 2015 13670 956,900.00
4 2016 8971 627,970.00
 Harga minyak 93 US$
Umur Tambang 53 Bulan
Intangeble Cost 103033.48 US$
Tangeble Cost 76966.52 US$
Total Investasi 180000 US$
FTP 10 %
Split Pemerintah 32.8 %
Split Pertamina 67.2 %
Goverment Tax 40.5 %
Biaya Operasi 16.73 US$/bbl

Dep. Prod. Cost General Adm. Op. Cost Esc. Factor Esc. Op.Cost
(US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 81,536.00 81,536.00 1.00 81,536.00
143,750.00 830,286.48 81,536.00 911,822.48 1.10 1,003,004.73
143,750.00 392,987.70 81,536.00 474,523.70 1.21 574,173.68
143,750.00 228,699.10 81,536.00 310,235.10 1.33 412,922.92
143,750.00 150,084.83 81,536.00 231,620.83 1.46 339,116.06
 Dep. Prod. Cost General Adm. Op. Cost Esc. Factor Esc. Op.Cost
(US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 81,536.00 81,536.00 1.00 81,536.00
143,750.00 830,286.48 81,536.00 911,822.48 1.10 1,003,004.73
215,625.00 392,987.70 81,536.00 474,523.70 1.21 574,173.68
251,562.50 228,699.10 81,536.00 310,235.10 1.33 412,922.92
150,084.83 81,536.00 231,620.83 1.46 339,116.06

Dep. Prod. Cost General Adm. Op. Cost Esc. Factor Esc. Op.Cost
(US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 81,536.00 81,536.00 1.00 81,536.00
172,500.00 830,286.48 81,536.00 911,822.48 1.10 1,003,004.73
115,000.00 392,987.70 81,536.00 474,523.70 1.21 574,173.68
57,500.00 228,699.10 81,536.00 310,235.10 1.33 412,922.92
0.00 150,084.83 81,536.00 231,620.83 1.46 339,116.06
24,320.00 291,840.00
 FTP Rem. Rev IC UR CR Rec. ES CS
(US$) (US$) (US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
347,400.20 3,126,601.80 86,250.00 970,500.00 ### ### 1,270,497.27 854,114.66
164,430.00 1,479,870.00 0.00 717,923.68 717,923.68 926,376.32 622,773.16
95,690.00 861,210.00 0.00 556,672.92 556,672.92 400,227.08 269,059.86
62,797.00 565,173.00 0.00 482,866.06 482,866.06 145,103.94 97,548.74
 FTP Rem. Rev IC UR CR Rec. ES CS
(US$) (US$) (US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
347,400.20 3,126,601.80 86,250.00 970,500.00 ### ### 1,270,497.27 854,114.66
164,430.00 1,479,870.00 0.00 789,798.68 789,798.68 854,501.32 574,453.90
95,690.00 861,210.00 0.00 664,485.42 664,485.42 292,414.58 196,580.97
62,797.00 565,173.00 0.00 339,116.06 339,116.06 288,853.94 194,187.26

FTP Rem. Rev IC UR CR Rec. ES CS

(US$) (US$) (US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
347,400.20 3,126,601.80 86,250.00 970,500.00 ### ### 1,241,747.27 834,786.96
164,430.00 1,479,870.00 0.00 689,173.68 689,173.68 955,126.32 642,100.86
95,690.00 861,210.00 0.00 470,422.92 470,422.92 486,477.08 327,042.97
62,797.00 565,173.00 0.00 339,116.06 339,116.06 288,853.94 194,187.26
 NCS TCS Exp. CCF Cum. CCF DF DCCF Cum. DCCF
(US$) (US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 1,627,036.00 -1,627,036.00 ### 1.00 -1,627,036.00 -1,627,036.00
517,200.56 2,634,455.29 1,003,004.73 1,631,450.56 4,414.56 0.89 1,456,652.29 -170,383.71
342,525.24 1,060,448.91 574,173.68 486,275.24 490,689.80 0.80 387,655.64 217,271.93
147,982.92 704,655.84 412,922.92 291,732.92 782,422.72 0.71 207,649.73 424,921.66
53,651.81 536,517.86 339,116.06 197,401.81 979,824.53 0.64 125,452.42 550,374.08

i (40%) i (30%)
1.00 -1,627,036.00 1,571,123.41 1.00 -1,627,036.00 1,744,601.61
0.71 1,165,321.83 -55,912.59 0.77 1,254,961.97 117,565.61
0.51 248,099.61 0.59 287,736.83
 0.36 106,316.66 0.46 132,786.95
0.26 51,385.31 0.35 69,115.86

NCS TCS Exp. CCF Cum. CCF DF DCCF Cum. DCCF

(US$) (US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 1,627,036.00 -1,627,036.00 ### 1.00 -1,627,036.00 -1,627,036.00
517,200.56 2,634,455.29 1,003,004.73 1,631,450.56 4,414.56 0.89 1,456,652.29 -170,383.71
315,949.64 1,105,748.32 574,173.68 531,574.64 535,989.21 0.80 423,768.05 253,384.34
108,119.53 772,604.95 412,922.92 359,682.03 895,671.24 0.71 256,014.57 509,398.91
106,802.99 445,919.05 339,116.06 106,802.99 1,002,474.23 0.64 67,875.23 577,274.14

i (40%) i (30%)
1.00 -1,627,036.00 1,595,414.54 1.00 -1,627,036.00 1,770,612.96
0.71 1,165,321.83 -31,621.46 0.77 1,254,961.97 143,576.96
0.51 271,211.55 0.59 314,541.21
0.36 131,079.46 0.46 163,715.08
0.26 27,801.70 0.35 37,394.70
NCS TCS Exp. CCF Cum. CCF DF DCCF Cum. DCCF
(US$) (US$) (US$) (US$) (US$) (US$) (US$)
0.00 0.00 1,627,036.00 -1,627,036.00 ### 1.00 -1,627,036.00 -1,627,036.00
506,570.33 2,652,575.05 1,003,004.73 1,649,570.33 22,534.33 0.89 1,472,830.65 -154,205.35
353,155.47 1,042,329.15 574,173.68 468,155.47 490,689.80 0.80 373,210.68 219,005.33
179,873.64 650,296.55 412,922.92 237,373.64 728,063.44 0.71 168,957.87 387,963.19
106,802.99 445,919.05 339,116.06 106,802.99 834,866.43 0.64 67,875.23 455,838.43

i (40%) i (30%)
1.00 -1,627,036.00 1,531,427.48 1.00 -1,627,036.00 1,691,354.46
0.71 1,178,264.52 -95,608.52 0.77 1,268,900.25 64,318.46
0.51 238,854.83 0.59 277,015.07
0.36 86,506.43 0.46 108,044.44
0.26 27,801.70 0.35 37,394.70
 GS Gov. Tax GCF Cum. GCF
(US$) (US$) (US$) (US$)
0.00 0.00 0.00 0.00 POT (th) 1.00
416,382.61 380,847.69 797,230.30 797,230.30 DPIR 35.61%
303,603.17 252,223.13 555,826.29 1,353,056.59 NPV (US$) 550,374.08
131,167.22 108,969.24 240,136.47 1,593,193.06 ROR 36.54%
47,555.21 39,507.24 87,062.44 1,680,255.50
 GS Gov. Tax GCF Cum. GCF
(US$) (US$) (US$) (US$)
0.00 0.00 0.00 0.00 POT (th) 1.00
416,382.61 380,847.69 797,230.30 797,230.30 DPIR 37.35%
280,047.43 232,653.83 512,701.26 1,309,931.56 NPV (US$) 577,274.14
95,833.62 79,615.29 175,448.91 1,485,380.46 ROR 38.04%
94,666.68 78,645.84 173,312.52 1,658,692.98

GS Gov. Tax GCF Cum. GCF

(US$) (US$) (US$) (US$)
0.00 0.00 0.00 0.00 POT (th) 0.99
406,960.32 373,019.97 779,980.29 779,980.29 DPIR 29.49%
313,025.46 260,050.85 573,076.31 1,353,056.59 NPV (US$) 455,838.43
159,434.11 132,452.40 291,886.51 1,644,943.11 ROR 33.78%
94,666.68 78,645.84 173,312.52 1,818,255.63
 TOTAL PENDAPATAN
INDONESIA (US$) PT. PERTAMINA (US$)
1,680,255.50 979,824.53
 TOTAL PENDAPATAN
INDONESIA (US$) PT. PERTAMINA (US$)
1,658,692.98 1,002,474.23

TOTAL PENDAPATAN
INDONESIA (US$) PT. PERTAMINA (US$)
1,818,255.63 834,866.43
 %
#REF!
#REF!

TOTAL CASH FLOW

INDONESI PT. PERTAMINA
440,338.26 191,651.83

TOTAL PENDAPATAN
BASE CASE
 Np Harga Minyak Investasi
INDONESIA PERTAMINA
TAKE TAKE
(STB) (US$/bbl) (US$) (US$) (US$)
### 40.00 246,610.30 849,743.40 262,045.43
RTAMINA TAKE
 Kontraktor Cash Flow

Tahun 2012 2013 2014 2015 2016

Cap. (US$) 575,000
Non Cap. (US$) 970,500
General Adm. (US$) 81,536 81,536 81,536 81,536 81,536
Total Prod. (US$) 49628.6 23490 13670 8971
GR (US$) 3,474,002.00 1,644,300.00 956,900.00 627,970.00
Dep. (US$) 143,750.00 143,750.00 143,750.00 143,750.00
Prod. Cost (US$) 830,286.48 392,987.70 228,699.10 150,084.83
Esc. Factor 1 1.1 1.21 1.33 1.46
Esc. Op.Cost (US$) 81,536.00 1,003,004.73 574,173.68 412,922.92 339,116.06
FTP (US$) 347,400.20 164,430.00 95,690.00 62,797.00
Rem. Rev (US$) 3,126,601.80 1,479,870.00 861,210.00 565,173.00
IC (US$) 86,250.00
UR (US$) 970,500.00
CR (US$) 2,117,254.73 717,923.68 556,672.92 482,866.06
Rec. (US$) 2,203,504.73 717,923.68 556,672.92 482,866.06
ES (US$) 1,270,497.27 926,376.32 400,227.08 145,103.94
CS (US$) 854,114.66 622,773.16 269,059.86 97,548.74
NCS (US$) 517,200.56 342,525.24 147,982.92 53,651.81
TCS (US$) 2,634,455.29 1,060,448.91 704,655.84 536,517.86
Exp. (US$) 1,627,036.00 1,003,004.73 574,173.68 412,922.92 339,116.06
CCF (US$) -1,627,036.00 1,631,450.56 486,275.24 291,732.92 197,401.81

Kontraktor Cash Flow

Tahun 2012 2013 2014 2015 2016

Cap. (US$) 575,000
Non Cap. (US$) 970,500
General Adm. (US$) 81,536 81,536 81,536 81,536 81,536
Total Prod. (US$) 49628.6 23490 13670 8971
GR (US$) 3,474,002.00 1,644,300.00 956,900.00 627,970.00
Dep. (US$) 143,750.00 215,625.00 251,562.50
Prod. Cost (US$) 830,286.48 392,987.70 228,699.10 150,084.83
Esc. Factor 1 1.1 1.21 1.33 1.46
Esc. Op.Cost (US$) 81,536.00 1,003,004.73 574,173.68 412,922.92 339,116.06
FTP (US$) 347,400.20 164,430.00 95,690.00 62,797.00
Rem. Rev (US$) 3,126,601.80 1,479,870.00 861,210.00 565,173.00
IC (US$) 86,250.00
UR (US$) 970,500.00
CR (US$) 2,117,254.73 789,798.68 664,485.42 339,116.06
Rec. (US$) 2,203,504.73 789,798.68 664,485.42 339,116.06
ES (US$) 1,270,497.27 854,501.32 292,414.58 288,853.94
CS (US$) 854,114.66 574,453.90 196,580.97 194,187.26
NCS (US$) 517,200.56 315,949.64 108,119.53 106,802.99
TCS (US$) 2,634,455.29 1,105,748.32 772,604.95 445,919.05
Exp. (US$) 1,627,036.00 1,003,004.73 574,173.68 412,922.92 339,116.06
CCF (US$) -1,627,036.00 1,631,450.56 531,574.64 359,682.03 106,802.99

Kontraktor Cash Flow

Tahun 2012 2013 2014 2015 2016

Cap. (US$) 575,000
Non Cap. (US$) 970,500
General Adm. (US$) 81,536 81,536 81,536 81,536 81,536
Total Prod. (US$) 49628.6 23490 13670 8971
 GR (US$) 3,474,002.00 1,644,300.00 956,900.00 627,970.00
Dep. (US$) 172,500.00 115,000.00 57,500.00
Prod. Cost (US$) 830,286.48 392,987.70 228,699.10 150,084.83
Esc. Factor 1 1.1 1.21 1.33 1.46
Esc. Op.Cost (US$) 81,536.00 1,003,004.73 574,173.68 412,922.92 339,116.06
FTP (US$) 347,400.20 164,430.00 95,690.00 62,797.00
Rem. Rev (US$) 3,126,601.80 1,479,870.00 861,210.00 565,173.00
IC (US$) 86,250.00
UR (US$) 970,500.00
CR (US$) 2,146,004.73 689,173.68 470,422.92 339,116.06
Rec. (US$) 2,232,254.73 689,173.68 470,422.92 339,116.06
ES (US$) 1,241,747.27 955,126.32 486,477.08 288,853.94
CS (US$) 834,786.96 642,100.86 327,042.97 194,187.26
NCS (US$) 506,570.33 353,155.47 179,873.64 106,802.99
TCS (US$) 2,652,575.05 1,042,329.15 650,296.55 445,919.05
Exp. (US$) 1,627,036.00 1,003,004.73 574,173.68 412,922.92 339,116.06
CCF (US$) -1,627,036.00 1,649,570.33 468,155.47 237,373.64 106,802.99
 Pemerintah Cash Flow

Tahun 2012 2013 2014 2015 2016

Total Prod. (US$) 49628.6 23490 13670 8971
GR (US$) 3,474,002.00 1,644,300.00 956,900.00 627,970.00
FTP (US$) 347,400.20 164,430.00 95,690.00 62,797.00
Rem. Rev (US$) 3,126,601.80 1,479,870.00 861,210.00 565,173.00
IC (US$) 86,250.00
Rec. (US$) 2,203,504.73 717,923.68 556,672.92 482,866.06
ES (US$) 1,270,497.27 926,376.32 400,227.08 145,103.94
CS (US$) 854,114.66 622,773.16 269,059.86 97,548.74
GS (US$) 416,382.61 303,603.17 131,167.22 47,555.21
Gov. Tax (US$) 380,847.69 252,223.13 108,969.24 39,507.24
GCF (US$) 797,230.30 555,826.29 240,136.47 87,062.44

Pemerintah Cash Flow

Tahun 2012 2013 2014 2015 2016

Total Prod. (US$) 49628.6 23490 13670 8971
GR (US$) 3,474,002.00 1,644,300.00 956,900.00 627,970.00
FTP (US$) 347,400.20 164,430.00 95,690.00 62,797.00
Rem. Rev (US$) 3,126,601.80 1,479,870.00 861,210.00 565,173.00
IC (US$) 86,250.00
Rec. (US$) 2,203,504.73 789,798.68 664,485.42 339,116.06
ES (US$) 1,270,497.27 854,501.32 292,414.58 288,853.94
CS (US$) 854,114.66 574,453.90 196,580.97 194,187.26
GS (US$) 416,382.61 280,047.43 95,833.62 94,666.68
Gov. Tax (US$) 380,847.69 232,653.83 79,615.29 78,645.84
GCF (US$) 797,230.30 512,701.26 175,448.91 173,312.52

Pemerintah Cash Flow

Tahun 2012 2013 2014 2015 2016

Total Prod. (US$) 49628.6 23490 13670 8971
GR (US$) 3,474,002.00 1,644,300.00 956,900.00 627,970.00
FTP (US$) 347,400.20 164,430.00 95,690.00 62,797.00
Rem. Rev (US$) 3,126,601.80 1,479,870.00 861,210.00 565,173.00
 IC (US$) 86,250.00
Rec. (US$) 2,232,254.73 689,173.68 470,422.92 339,116.06
ES (US$) 1,241,747.27 955,126.32 486,477.08 288,853.94
CS (US$) 834,786.96 642,100.86 327,042.97 194,187.26
GS (US$) 406,960.32 313,025.46 159,434.11 94,666.68
Gov. Tax (US$) 373,019.97 260,050.85 132,452.40 78,645.84
GCF (US$) 779,980.29 573,076.31 291,886.51 173,312.52