Indonesia Energy Files 2024 Annual Report and Provides an Update on Operations and Planned Drilling During the Remainder of 2025
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 Corporation (NYSE: INDO) ha presentato il rapporto annuale per il 2024 e fornito un aggiornamento operativo per il 2025. Nel 2024, l'azienda si è concentrata su investimenti strategici nelle attività sismiche e di esplorazione presso il suo asset Kruh Block, sospendendo temporaneamente le attività di perforazione per massimizzare i rendimenti futuri.
L'azienda prevede di riprendere le operazioni di perforazione nella seconda metà del 2025, con l'impegno di trivellare almeno un nuovo pozzo entro quest'anno. Questo fa parte di un programma pluriennale più ampio che punta a 18 nuovi pozzi nel Kruh Block. Secondo il Presidente Frank Ingriselli, i dati sismici acquisiti dovrebbero migliorare l'efficacia della perforazione e massimizzare i rendimenti dall'asset.
I risultati finanziari e operativi completi per il 2023-2024, inclusi i bilanci certificati, sono disponibili nel modulo 20-F, accessibile tramite il sito web dell'azienda. Gli azionisti possono richiedere copie cartacee gratuite attraverso la pagina di contatto dell'azienda.
Indonesia Energy Corporation (NYSE: INDO) ha presentado su informe anual de 2024 y proporcionado una actualización operativa para 2025. Durante 2024, la compañía se centró en inversiones estratégicas en trabajos sísmicos y de exploración en su activo Kruh Block, pausando temporalmente las actividades de perforación para maximizar los retornos futuros.
La empresa planea reanudar las operaciones de perforación en la segunda mitad de 2025, comprometiéndose a perforar al menos un pozo nuevo este año. Esto forma parte de un programa multianual más amplio que apunta a 18 nuevos pozos en Kruh Block. Según el presidente Frank Ingriselli, los datos sísmicos adquiridos se esperan mejoren la efectividad de la perforación y maximicen los retornos del activo.
Los resultados financieros y operativos completos para 2023-2024, incluidos los estados financieros auditados, están disponibles en el formulario 20-F, accesible a través del sitio web de la compañía. Los accionistas pueden solicitar copias impresas gratuitas mediante la página de contacto de la empresa.
인도네시아 에너지 코퍼레이션 (NYSE: INDO)은 2024년 연례 보고서를 제출하고 2025년 운영 업데이트를 제공했습니다. 회사는 2024년 동안 Kruh Block 자산에서 지진 탐사 및 탐사 작업에 전략적 투자를 집중하며, 향후 수익 극대화를 위해 시추 활동을 일시 중단했습니다.
회사는 2025년 하반기에 시추 작업을 재개할 계획이며, 올해 최소 한 개의 신규 유정 시추를 약속하고 있습니다. 이는 Kruh Block에서 18개의 신규 유정을 목표로 하는 다년간 프로그램의 일환입니다. 프랭크 잉그리셀리 사장에 따르면, 획득한 지진 데이터가 시추 효율성을 향상시키고 자산에서의 수익을 극대화할 것으로 기대됩니다.
2023-2024년의 완전한 재무 및 운영 결과, 감사된 재무제표를 포함한 내용은 회사 웹사이트를 통해 접근 가능한 Form 20-F 문서에서 확인할 수 있습니다. 주주들은 회사 연락처 페이지를 통해 무료 인쇄본을 요청할 수 있습니다.
Indonesia Energy Corporation (NYSE : INDO) a déposé son rapport annuel 2024 et fourni une mise à jour opérationnelle pour 2025. En 2024, la société s'est concentrée sur des investissements stratégiques dans les travaux sismiques et d'exploration sur son actif Kruh Block, suspendant temporairement les activités de forage afin de maximiser les rendements futurs.
La société prévoit de reprendre les opérations de forage au second semestre 2025, avec l'engagement de forer au moins un nouveau puits cette année. Cela s'inscrit dans le cadre d'un programme pluriannuel visant 18 nouveaux puits sur le Kruh Block. Selon le président Frank Ingriselli, les données sismiques acquises devraient améliorer l'efficacité du forage et maximiser les rendements de l'actif.
Les résultats financiers et opérationnels complets pour 2023-2024, y compris les états financiers audités, sont disponibles dans le formulaire 20-F, accessible via le site web de la société. Les actionnaires peuvent demander des copies papier gratuites via la page de contact de l'entreprise.
Indonesia Energy Corporation (NYSE: INDO) hat seinen Jahresbericht für 2024 eingereicht und ein operatives Update für 2025 bereitgestellt. Im Jahr 2024 konzentrierte sich das Unternehmen auf strategische Investitionen in seismische Untersuchungen und Explorationsarbeiten an seinem Kruh Block-Asset und pausierte vorübergehend Bohraktivitäten, um zukünftige Renditen zu maximieren.
Das Unternehmen plant, die Bohrungen in der zweiten Hälfte des Jahres 2025 wieder aufzunehmen und verpflichtet sich, in diesem Jahr mindestens einen neuen Bohrloch zu erschließen. Dies ist Teil eines größeren mehrjährigen Programms, das auf 18 neue Bohrlöcher im Kruh Block abzielt. Laut Präsident Frank Ingriselli sollen die gewonnenen seismischen Daten die Bohrungseffizienz verbessern und die Renditen aus dem Asset maximieren.
Die vollständigen Finanz- und Betriebsergebnisse für 2023-2024, einschließlich geprüfter Finanzberichte, sind im Formular 20-F verfügbar, das über die Website des Unternehmens zugänglich ist. Aktionäre können kostenlose gedruckte Exemplare über die Kontaktseite des Unternehmens anfordern.
- Planned drilling of at least one new well in H2 2025 as part of 18-well program at Kruh Block
- 2024 investments in seismic data expected to improve drilling effectiveness and maximize returns
- Curtailed drilling activity during 2024, indicating operational slowdown
- Delayed drilling program execution, pushing new wells to H2 2025
Insights
INDO shifts from drilling to seismic exploration in 2024, plans to resume drilling in H2 2025 with at least one new well at Kruh Block.
Indonesia Energy Corporation (INDO) has filed its 2024 annual report and provided an operational update focused on its Kruh Block asset. The key development is that during 2024, the company redirected resources from active drilling to seismic and exploration work. This represents a tactical shift in their operational approach.
According to the press release, INDO plans to resume drilling in the second half of 2025, with a commitment to drill "at least one new well" this year. This upcoming activity is framed as part of their previously established multi-year program targeting 18 new wells at Kruh Block.
Management states they believe the seismic data acquired will "make drilling even more effective" and "help maximize the returns from this important asset." However, the release doesn't provide specific details on how the seismic data has enhanced their understanding of the reservoir or changed their drilling approach.
The company directs investors to their annual report for complete financial and operational results for 2024. Without specific financial figures in the press release, it's not possible to assess the financial impact of their 2024 investment in seismic work or quantify expected returns from the upcoming drilling activity.
2024 investments in seismic and other exploration work at Kruh Block set the stage for new drilling in the second half of 2025
JAKARTA, INDONESIA AND DANVILLE, CA, April 30, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced that it has filed today its annual report on Form 20-F which contains its financial and operating results for the year ended December 31, 2024.
Also provided in that report is an update on IEC’s planned drilling activity for the second half of 2025. During 2024, IEC curtailed drilling activity at its Kruh Block asset in lieu of investing in seismic and other exploration work intended to maximum the return on new drilling. That drilling is expected to commence in the second half of 2025, as IEC plans to drill at least one new well this year as part of its multi-year program to drill 18 new wells at Kruh Block.
Mr. Frank Ingriselli, IEC's President, commented "We are pleased to have filed our year end 2024 annual report, which shows our investments in Kruh Block as we look to recommence drilling activity this year. We believe our seismic data in hand will make our drilling even more effective and help us maximize the returns from this important asset.”
More information regarding IEC’s financial and operating results for the years ended December 31, 2024 and 2023, including IEC's full audited financial statements and footnotes, can be found in IEC’s annual report on Form 20-F which was filed earlier today with the Securities and Exchange Commission and is available on IEC’s website at: https://ir.indo-energy.com/sec-filings/
A hard copy of the annual report is also available to be sent free of charge by contacting IEC at the following link: https://indo-energy.com/contact/
About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (195,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release, and related statements of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, the words “could,” "estimates," "believes," "hopes," "expects," "intends," “on-track”, "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. In this press release, forward-looking statements include, without imitation those related to IEC’s future drilling plans at Kruh Block. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of significant risks, uncertainties, and other factors, many of which are outside of the IEC's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2024, filed on April 29, 2025, and other filings with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC's website, www.sec.gov and IEC’s website at https://ir.indo-energy.com/sec-filings/. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com
FAQ
When will Indonesia Energy (INDO) resume drilling at Kruh Block in 2025?
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What did Indonesia Energy (INDO) focus on during 2024 instead of drilling?
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What is the purpose of INDO's 2024 seismic investments at Kruh Block?
