JAKARTA, INDONESIA AND DANVILLE, CA, March 23, 2026 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced pre-drilling progress on its planned next two (2) wells at IEC’s Kruh Block. IEC expects to commence drilling at the first of these new wells within approximately the next 60 days. The wells are expected to be drilled on a back-to-back basis. This progress comes at an auspicious time for IEC ...

Group 1 - Indonesia Energy Corp Ltd (NYSE:INDO) shares are experiencing a significant increase due to escalating tensions in the U.S.–Israel–Iran conflict, which is impacting oil supply concerns [1][2] - The company is an independent upstream oil and gas exploration and production firm, focusing on onshore assets in Indonesia, including the Kruh Block and the exploration-stage Citarum Block [3] - Revenue for Indonesia Energy is primarily linked to the price of oil produced in Indonesia, with fixed operating costs, meaning that a sustained rise in global crude prices can enhance margins and cash flow significantly [4] Group 2 - Short-term moving averages (20- and 50-day) for Indonesia Energy have risen above the 200-day average, indicating a strengthening upside momentum [5] - On Friday, Indonesia Energy Corp shares rose by 11.68%, reaching a price of $5.64 [6]

Core Viewpoint - Indonesia Energy (INDO) stock has surged approximately 80% year-to-date, driven by geopolitical tensions from the US-Iran conflict, particularly the blockade of the Strait of Hormuz, which has impacted global oil supply and prices [1][1]. Group 1: Stock Performance and Market Context - The stock has experienced a dramatic rally, doubling in price within days due to traders seeking opportunities in companies benefiting from constrained oil supply and rising Brent crude prices [1][1]. - The Iran war has disrupted about 20% of the world's oil supply, creating a favorable environment for Indonesia Energy, which operates in a geographically safe area [1][1]. Group 2: Investment Risks and Company Fundamentals - Despite the stock's current performance, Indonesia Energy is characterized by historically weak and inconsistent financials, with thin or negative operating margins, making it challenging to achieve profitability [1][1]. - The company has a history of volatile stock cycles, where gains are often followed by secondary stock offerings that dilute existing shareholders [1][1]. - The reliance on a single geographic location introduces significant risks, as operational delays or regulatory issues could severely impact the company [1][1]. Group 3: Analyst Coverage and Market Perception - Indonesia Energy is classified as a "penny stock," indicating a lack of market maker confidence and liquidity, which results in wide spreads that can disadvantage retail investors [1][1]. - There is currently no analyst coverage from major research firms, leading to a lack of institutional consensus and independent validation of the company's claims [1][1].

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential opportunities for traders [1] Premarket Gainers - Brand Engagement Network, Inc. (BNAI) is up 20% at $51.61 [3] - Latham Group, Inc. (SWIM) is up 20% at $7.79 [3] - Evolus, Inc. (EOLS) is up 14% at $4.74 [3] - Edesa Biotech, Inc. (EDSA) is up 11% at $4.86 [3] - 20/20 Biolabs, Inc. (AIDX) is up 11% at $3.28 [3] - DeFi Development Corp. (DFDV) is up 9% at $4.04 [3] - Accel Entertainment, Inc. (ACEL) is up 7% at $11.95 [3] - Solana Company (HSDT) is up 7% at $2.12 [3] - Nano-X Imaging Ltd. (NNOX) is up 6% at $2.76 [3] - Strive Asset Management, LLC (ASST) is up 5% at $8.81 [3] Premarket Losers - Battalion Oil Corporation (BATL) is down 28% at $19.67 [4] - TMD Energy Limited (TMDE) is down 24% at $3.03 [4] - Ascent Industries Co. (ACNT) is down 15% at $14.75 [4] - indie Semiconductor, Inc. (INDI) is down 14% at $2.71 [4] - WEBTOON Entertainment Inc. (WBTN) is down 13% at $9.98 [4] - STAAR Surgical Company (STAA) is down 10% at $17.00 [4] - Indonesia Energy Corporation Limited (INDO) is down 10% at $4.68 [4] - BiomX Inc. (PHGE) is down 7% at $4.52 [4] - Arbutus Biopharma Corporation (ABUS) is down 6% at $4.37 [4] - Global Interactive Technologies, Inc. (GITS) is down 6% at $2.43 [4]

Indonesia Energy Corp Ltd (NYSE:INDO) shares are retreating Tuesday, giving back a portion of Monday's sharp gains as traders assess risks across the oil and gas sector following fresh Middle East turmoil. Here’s what investors need to know.Indonesia Energy Corp shares are retreating from recent levels. What’s pressuring INDO stock?Strait Of Hormuz Closure Heightens Oil FearsThe pullback comes amid heightened volatility in small-cap energy names after the U.S. and Israel launched coordinated strikes on Iran ...

Group 1: Market Reaction - Shares of Indonesia Energy Corp Ltd (NYSE:INDO) surged by 28.40% to $7.60, reaching a new 52-week high amid increased investor interest in oil and gas stocks following U.S. and Israeli strikes against Iran [1][6] - The stock's performance is influenced by geopolitical tensions, particularly fears of supply disruptions in the oil and gas sector due to the closure of the Strait of Hormuz and attacks on key production facilities [2] Group 2: Company Profile - Indonesia Energy is an upstream oil and gas producer based in Jakarta, with operations in Indonesian blocks, including the Kruh Block in South Sumatra and the Citarum exploration block on Java [3] - The company has potential exploration opportunities in the Rangkas area, positioning it to benefit directly from regional crude price movements [3] Group 3: Trading Characteristics - Indonesia Energy has a small market float, with approximately 15 million shares outstanding and a free float of under 10 million shares, making it susceptible to significant price movements under buying pressure [4] - Recent data indicates that short interest has represented 16% of the public float, contributing to volatility as traders react to geopolitical developments [4] Group 4: Technical Analysis - The stock has experienced a breakout, trading above key moving averages (20-, 50-, and 200-day), indicating strong upward momentum after a period of consolidation [5]

President Frank Ingriselli will Provide Update on Two New Wells at Kruh Block, Where Pre-Drilling Operations Have Commenced JAKARTA, INDONESIA AND DANVILLE, CA, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced that IEC’s President Frank Ingriselli will be making a presentation on January 28, 2026 at the upcoming DealFlow Discovery Conference taking place in Atlantic City, New ...

Core Viewpoint - Indonesia Energy Corporation (IEC) is progressing with its drilling plans for two new wells in the Kruh Block, aiming to commence drilling by the end of Q1 2026, which is expected to enhance its operational capabilities and shareholder value [1][2][4]. Group 1: Drilling Operations - IEC has constructed drilling pads for the K-29 and WK-5 wells, with the K-29 well's pad completed and the WK-5 pad delivered [3]. - The necessary drilling equipment, including pipes, drill bits, and wellheads, has been delivered, and the drilling rig is currently under inspection [3]. - Approval for the procurement of critical drilling explosives has been obtained, and these explosives have been transported to a designated warehouse [3]. Group 2: Corporate Communication - Mr. Frank Ingriselli, President of IEC, expressed enthusiasm about the upcoming drilling operations and plans to visit the Kruh Block during the drilling phase [4]. - IEC will present updates on its drilling operations at the DealFlow Discovery Conference on January 28, 2026, in Atlantic City, New Jersey [4]. - Additional details regarding the conference presentation and an updated corporate presentation will be made available on the company's website prior to the event [4][5]. Group 3: Company Overview - Indonesia Energy Corporation Limited (NYSE American: INDO) focuses on acquiring and developing high-growth energy projects in Indonesia, with principal assets including the Kruh Block (64,000 acres) and the Citarum Block (195,000 acres) [5]. - The company is headquartered in Jakarta, Indonesia, and has a representative office in Danville, California [5].

Core Insights - Indonesia Energy Corporation (IEC) has signed a Memorandum of Understanding (MOU) with Aquila Energia e Participações Ltda. (AEP) to explore sustainable off-grid energy solutions in Brazil, particularly for data centers [1][2] - The MOU aims to develop two hybrid energy pilot projects that integrate solar power and natural gas, with an initial generation capacity of 10 MW and potential expansion up to 400 MW [1] - This collaboration is part of a broader strategy to leverage state funding and other capital sources for energy projects in Brazil, combining IEC's expertise in oil and gas with AEP's local market knowledge [2][3] Company Overview - Indonesia Energy Corporation Limited (NYSE American: INDO) focuses on acquiring and developing high-growth energy projects in Indonesia, with significant assets in the Kruh Block and Citarum Block [4] - The company is also exploring joint project development opportunities in Brazil, indicating a strategic expansion into international markets [4] Strategic Context - The MOU was signed during a summit between the Presidents of Indonesia and Brazil, highlighting the commitment of both countries to collaborate on energy ventures [3] - IEC's President emphasized the potential for state financing to accelerate the development of significant assets, including a billion-dollar natural gas project in Indonesia [3]

Financial Performance - Revenue for the six months ended June 30, 2025, was $1.07 million, a decrease of 26% compared to $1.44 million for the same period in 2024[4] - Net loss for the six months ended June 30, 2025, was $2.82 million, compared to a net loss of $2.10 million for the same period in 2024, reflecting an increase in losses of approximately 34%[4] - The Company reported a basic and diluted loss per ordinary share of $0.19 for the six months ended June 30, 2025, compared to a loss of $0.26 for the same period in 2024[4] - The Company recorded a net loss of $2,822,774 for the six months ended June 30, 2025, with an accumulated deficit of $48,751,752[69] - Oil and gas revenues for the six months ended June 30, 2025, were $1,069,505, a decrease from $1,443,388 in the same period of 2024[76] - Lease operating expenses for the six months ended June 30, 2025, were $1,394,411, slightly lower than $1,405,429 in 2024[76] Assets and Liabilities - Total assets increased to $25.22 million as of June 30, 2025, up from $21.91 million at the end of 2024, representing a growth of approximately 15.5%[2] - Cash and cash equivalents, along with restricted cash, totaled $10.49 million at the end of June 2025, up from $6.49 million at the end of 2024, indicating a 61% increase[12] - Total current liabilities decreased to $1.57 million as of June 30, 2025, down from $1.91 million at the end of 2024, a reduction of approximately 17%[2] - Total shareholders' equity increased to $21.93 million as of June 30, 2025, up from $18.19 million at the end of 2024, reflecting a growth of approximately 20%[2] - Warrant liabilities, net of debt issuance costs, increased to $611,802 as of June 30, 2025, from $578,928 as of December 31, 2024[40] - The Company has no outstanding short-term or long-term bank borrowings as of the reporting date[71] Operational Plans and Developments - The company anticipates completing two new wells in the first quarter of 2026 as part of a continuous drilling program of 14 new wells over the next four years[14] - The Company has completed new 3D seismic exploratory operations at the Kruh Block, with interpretation and reservoir study ongoing until September 2025[71] - The Company is currently focused on the Indonesian market, holding two oil and gas assets and has identified a potential third exploration block[14] Shareholder Actions - The company issued 1,386,955 ordinary shares through an ATM offering, raising approximately $6.56 million during the first half of 2025[6] - As of June 30, 2025, the Company had 14,987,474 Ordinary Shares issued and outstanding, with net proceeds of approximately $6.56 million from the issuance of 1,386,955 shares through an at-the-market offering[59] Accounting and Compliance - The Company is currently evaluating the impact of recently issued accounting standards on its consolidated financial statements[21] - The effective tax rate for the six months ended June 30, 2025 and 2024 was 0%[57] - The Company has not recognized a "right of use" asset or lease liability for short-term leases, opting for the short-term lease exemption[52] Commitments and Expenses - Total commitments for the Citarum Block PSC amount to $39,100,000, while total commitments for the Kruh KSO are $149,948,500[65] - Total operating lease costs for the six months ended June 30, 2025, were $348,137, compared to $460,636 for the same period in 2024[54] - The Company incurred related party rental expenses totaling $78,540 for the six months ended June 30, 2025, compared to $76,922 for the same period in 2024[61] - Future lease payments included in the measurement of operating lease liabilities as of June 30, 2025, totaled $729,713[54] Other Financial Metrics - The Company recorded depletion of $315,657 for the six months ended June 30, 2025, compared to $258,850 for the same period in 2024[38] - For the six months ended June 30, 2025, the Company incurred capitalized development costs of $15,374 related to geological and geophysical studies[37] - As of June 30, 2025, the total allowance on other receivables for current assets was $613,066, compared to $103,433 for the year ended December 31, 2024[33] - The Company recorded an allowance for doubtful accounts of $609,604 related to uncollected amounts for rig equipment sales as of June 30, 2025[31]