Welltest analysis is basically an analysis of fluid flow behavior in porous rocks, both in oil reservoirs and gas reservoirs that aim to obtain reservoir characteristics. Welltest analysis is not only limited to get reservoir characteristics and well productivity, but to determine the reservoir and boundary models that are close to the real situation. Until now, to determine the reservoir and boundary models are usually assisted by using a simulator, which is called modeling. However, to determine the reservoir and boundary models has its own challenges, because there are no specific methods or equations that can know for certain the model of a reservoir. Choosing the right type of model also requires some consideration, such as seismic data, geological data, log data, and information provided from other wells drilled into the same formation. From the determination of this model can be used as supporting information for a reservoir, which is then used to be a predictive model and renewal of its geological model, as well as allowing engineers to simulate production estimates. In this paper, we will present an analysis of determining the right reservoir model based on welltest analysis, which selected model is used to simulate production estimates. Case example is taken from an oil well named "HBR-05", which has been carried out a pressure build-up test on one productive layer that until now has not been produced or closed since the well testing was carried out. From the determination of the reservoir model based on welltest analysis, obtained heterogeneous anisotropic reservoir model and rectangular-no flow boundary model. The selected reservoir model is used to simulate the estimated production of the "HBR-05" well if it is produced from this layer. Production forecasting results for 48 months (4 years) the "HBR-05" well, the cumulative production is 107.8 Mbbl. In addition, the results of forecasting show that the reservoir pressure is already below the bubble point pressure in the 22nd month of forecasting.