Indonesia Energy to give update on future drilling, development plans in call with investors

Indonesia Energy Corporation (IEC), an E&P company focused solely on the Indonesia region, announced that IEC senior management will hold an investor update conference call on Tuesday, Jan. 21 to provide an update on future drilling and development plans, including a new planned reserve report and the unveiling of IEC’s new corporate logo and investor relations outreach program.

As a result of the 3D seismic program and the 5-year extension of IEC’s government contract for Kruh Block, the estimated ultimate recovery (EUR) from the Kruh field alone is expected to increase by over 30% and reserves by over 40%. Additional fields increased EUR will be in the final updated reserve report, the IEC stated.

As part of its presentation, IEC will provide an update on its recently completed 3D seismic program and its current drilling program plans for its Kruh Block, as well as IEC’s plans for a new reserve report for Kruh Block. IEC will also provide an update on planned development operations for its 650,000 natural gas Citarum Block.

"We look forward to updating our shareholders and the investment community on our latest activities in the Kruh Block including the completion of our 3D seismic program, our plans to commence drilling and the significant improvements in our economics and reserves,” said Mr. Frank Ingriselli, IEC’s President.

“Additionally, we are moving forward in 2025 with activities at our potential billion-barrel equivalent natural gas 650,000-acre Citarum Block, where the previous operator drilled several gas discoveries. We look forward to continuing our efforts as we seek to drive shareholder value," concluded Ingriselli.

To learn more about the Jan. 21 webinar, click here.