INDONESIA ENERGY CORP LTD Stock Price, News & Analysis

Indonesia Energy (NYSE: INDO) reported pre-drilling progress for two planned wells (K-29 and WK-5) on its 64,000-acre Kruh Block in Sumatra and said it remains on target to begin drilling the first well before the end of Q1 2026.

Key operational milestones include constructed drilling pads for K-29, delivered pad components for WK-5, delivery of drilling pipe, drill bits and wellheads, selection of a drilling rig now under inspection, and approved procurement and transport of government-controlled drilling explosives to a designated warehouse. The company will present an update at the DealFlow Discovery Conference on January 28, 2026.

Indonesia Energy Corporation (NYSE: INDO) signed a Memorandum of Understanding on October 24, 2025 with Aguila Energia e Participações Ltda (AEP) during the state visit between the presidents of Indonesia and Brazil.

The MOU creates a cooperative, non-binding framework to jointly identify and pursue opportunities to develop two hybrid off-grid pilot projects in Northeast Brazil integrating solar power and natural gas. Each pilot could start at 10 MW initial capacity with potential expansion up to 400 MW. The agreement follows an earlier August 2025 non-binding MOU and aims to combine IEC’s oil and gas and capital markets experience with AEP’s local transaction and regulatory capabilities to explore state-funded and other financing sources.

Indonesia Energy Corporation (NYSE American: INDO) announced during the H.C. Wainwright Global Investment Conference that operations have commenced for the first of two planned wells at its Kruh Block. The company has completed construction of the drilling pad for the K-29 well and delivered drilling pipe to the site.

The development is taking place on IEC's 63,000-acre Kruh Block in Indonesia. The company is currently awaiting government approvals for tender offers related to the drilling rig and other major components before drilling can begin.

Indonesia Energy Corporation (NYSE American: INDO) announced its participation in the H.C. Wainwright 27th Annual Global Investment Conference. President Frank Ingriselli will present on September 9, 2025, at 12:00 PM EST at the Lotte New York Palace Hotel in New York City.

The presentation will cover updates on IEC's drilling program for the Kruh Block, development operations for the Citarum Block (with over 1 billion barrels of prospective oil-equivalent resources), and the company's expansion plans into Brazil through a memorandum of understanding with Aguila Energia e Participações Ltd. The presentation will be available for replay on IEC's investor relations website.

Indonesia Energy Corporation (NYSE American: INDO) has signed a non-binding Memorandum of Understanding (MOU) with Brazil's Aguila Energia e Participações Ltda. (AEP) to explore energy opportunities in Brazil. This marks IEC's first expansion initiative beyond Indonesia.

The collaboration combines IEC's oil and gas expertise with AEP's local Brazilian market knowledge to identify and pursue energy assets across upstream and downstream segments. The partnership comes as IEC prepares to drill two back-to-back wells in its Kruh Block in Indonesia during Q4 2025, following successful seismic work that led to a 60% increase in proved gross reserves in May 2025.

Indonesia Energy Corporation (NYSE American: INDO) has announced plans to drill two new wells at its 63,000-acre Kruh Block in Q4 2025. The drilling program includes the Kruh-29 well with a planned depth of 3,400 ft and West Kruh-5 well with a planned depth of 5,200 ft, marking IEC's first drilling activity in West Kruh Field.

The drilling operations will utilize a 750 horsepower rig and follow extensive seismic work conducted during 2024-2025. The company expects to begin production from Kruh-29 by year-end 2025. Notably, IEC reported a 60% increase in proved gross reserves in May 2025, following investments in Kruh Block and 3D seismic work.

These wells are part of IEC's larger strategy to drill 18 total wells at Kruh Block in the coming years.

Indonesia Energy Corporation (NYSE: INDO) has announced positive results from a regional geochemical survey conducted at its 195,000-acre Citarum Block between September 2024 and March 2025. The analysis of 135 soil samples confirmed hydrocarbon presence in the Pasundan-1 well, Jatayu-1 well, and Jonggol area.

The findings may allow IEC to skip additional seismic work and proceed directly to drilling. Under the "gross split" agreement with the Indonesian government, IEC will be entitled to at least 65% of natural gas production. The company's first well will be classified as an "exploitation" well, enabling immediate production and commercialization of discovered resources. The Citarum Block reportedly has prospective oil-equivalent resources of over one billion barrels.

Indonesia Energy Corporation (NYSE: INDO) has announced updates on its operations and planned drilling activities for H2 2025. The company's proved gross reserves at Kruh Block increased by over 60% to approximately 3.3 million barrels, attributed to seismic work conducted in 2024 and a 5-year contract extension granted by the Indonesian government in late 2023.

IEC plans to drill at least one new well in H2 2025 as part of its multi-year program to drill 18 new wells at Kruh Block. The company scaled back drilling activity in 2024 to focus on seismic and exploration work, which is now completed. Management believes the new seismic data will enhance drilling effectiveness and maximize returns from the Kruh Block asset.

Indonesia Energy Corporation (NYSE: INDO) announced a strategic vision update focusing on expanding beyond traditional oil and gas operations. The company outlined three main goals: 1) Positioning as the primary U.S. public company focused on Indonesia, 2) Continuing development of Kruh and Citarum oil/gas assets, and 3) Exploring additional infrastructure investment opportunities in Indonesia. IEC reported a 60% increase in proved reserves at their Kruh Block and positive results from a geochemical survey at Citarum Block, which has potential for billion-barrel equivalent resources. The company aims to align with Indonesia's "Golden Indonesia 2045" vision, recognizing the nation's demographic advantages with 280 million people, 70% under age 45, and consistent 5% annual economic growth.