INDONESIA ENERGY CORP LTD Stock Price, News & Analysis

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.

Indonesia Energy Corporation (NYSE: INDO) has filed its 2024 annual report and provided an operational update for 2025. The company focused on strategic investments in seismic and exploration work at its Kruh Block asset during 2024, temporarily pausing drilling activities to maximize future returns.

The company plans to resume drilling operations in the second half of 2025, with a commitment to drill at least one new well this year. This is part of a larger multi-year program targeting 18 new wells at Kruh Block. According to President Frank Ingriselli, the acquired seismic data is expected to enhance drilling effectiveness and maximize returns from the asset.

The complete financial and operating results for 2023-2024, including audited financial statements, are available in the Form 20-F filing, accessible through the company's website. Shareholders can request free hard copies through the company's contact page.

Indonesia Energy (NYSE: INDO) has announced an investor update conference call scheduled for January 21, 2025, at 10:00 AM Eastern Time. The interactive Zoom webinar will feature President Frank Ingriselli and management team members discussing several key developments:

The company will provide updates on its recently completed 3D seismic program and current drilling plans for the Kruh Block, along with plans for a new reserve report. The 2023 contract extension with the Indonesian government has increased IEC's after-tax profit split from 15% to 35%, potentially leading to a 40% increase in proved reserves at the Kruh Block.

Management will also discuss development operations for the Citarum Block, which holds prospective oil-equivalent resources exceeding one billion barrels. The company will unveil its new corporate logo and investor relations outreach program during the call. A Q&A session will be included, and a replay will be available on IEC's website.