Comments Made During Company Presentation at H.C. Wainwright Conference JAKARTA, INDONESIA AND DANVILLE, CA, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced its President, Frank Ingriselli, during his presentation at the H.C. Wainwright 27th Annual Global Investment Conference on Tuesday, September 9, 2025 at 12:00 p.m. EST confirmed that operations on the first of its plann ...

President Frank Ingriselli Will Present on IEC’s Development, Drilling and Exploration Activities and Plans JAKARTA, INDONESIA AND DANVILLE, CA, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced its President, Frank Ingriselli, will be presenting at the H.C. Wainwright 27th Annual Global Investment Conference on Tuesday, September 9, 2025 at 12:00PM EST. The in-person venue f ...

Core Viewpoint - Indonesia Energy Corporation (IEC) has signed a Memorandum of Understanding (MOU) with Aguila Energia e Participações Ltda. (AEP) to explore energy opportunities in Brazil, marking its first steps towards expansion beyond Indonesia [1][2][3] Group 1: MOU and Collaboration - The MOU establishes a framework for IEC and AEP to jointly identify and pursue opportunities in oil and gas and other energy-related assets in Brazil [2] - The collaboration aims to leverage IEC's experience in oil and gas and capital markets alongside AEP's local expertise in Brazilian transactions and asset development [2][3] Group 2: Strategic Rationale for Brazil - IEC's President highlighted Brazil as an attractive market for upstream investment due to favorable market conditions [3] - Brazil's Oferta Permanente bid system allows for year-round acquisition of exploration and production blocks, potentially leading to quicker deal cycles [4] - Many junior operators in Brazil are divesting producing fields at attractive valuations, creating opportunities for cash flow optimization [4] - Royalties under Brazilian concession contracts typically range from 5-10%, which may result in higher after-tax cash flows compared to production-sharing contracts [5] Group 3: Future Plans and Developments - IEC plans to drill two back-to-back wells on its Kruh Block in Indonesia starting in Q4 2025, supported by recent seismic work that enhanced wellsite prospects [7][8] - In May 2025, IEC reported a 60% increase in proved gross reserves due to investments in the Kruh Block and seismic work [8]

Drilling part of company’s continuing plans to drill a total of 18 wells at the 63,000 acre Kruh Block JAKARTA, INDONESIA AND DANVILLE, CA, July 23, 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 plans to drill two (2) back-to-back wells on IEC’s 63,000 acre Kruh Block commencing in the fourth quarter of 2025. The new drilling activities will be supported by the previously an ...

Geochemical survey completed confirming gas and oil presence in previous discoveries which will be the target of first well to be drilled by IEC at Citarum JAKARTA, INDONESIA AND DANVILLE, CA, May 29, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced encouraging results from a regional geochemical survey conducted between September 2024 and March 2025 at IEC’s 195,000 acre Citarum Block ...

Core Insights - Indonesia Energy Corporation (IEC) has reported a significant increase in proved gross reserves at its Kruh Block, rising over 60% to approximately 3.3 million barrels due to investments in seismic and exploration work conducted in 2024 and a contract extension from the Indonesian government [3][4]. Group 1: Company Activities - In 2024, IEC scaled back drilling at Kruh Block to focus on seismic and exploration work, with plans to commence new drilling in the second half of 2025, targeting at least one new well as part of a multi-year program to drill 18 new wells [2][4]. - The company has completed 3D seismic work, which is expected to enhance the effectiveness of future drilling and maximize returns from the Kruh Block asset [4]. Group 2: Strategic Developments - IEC's Kruh Block covers 63,000 acres onshore in Sumatra, while its Citarum Block spans 195,000 acres onshore in Java, indicating a strong presence in Indonesia's energy sector [5]. - The company is headquartered in Jakarta, Indonesia, with a representative office in Danville, California, reflecting its operational and strategic reach [5].

Core Viewpoint - Indonesia Energy Corporation (IEC) is committed to evolving its corporate vision to support Indonesia's energy development and sustainable growth, recognizing the need to expand beyond traditional hydrocarbons [2][4][9]. Company Strategy - IEC aims to deliver energy security through oil and gas exploration while evolving its definition of energy to include sustainable and interconnected sectors [3][4]. - The company plans to focus on three main goals: supporting Indonesia's future, efficiently developing its oil and gas assets, and exploring investments in the country's infrastructure [10][14]. Market Context - Indonesia, with a population exceeding 280 million and a growing economy, is on a trajectory to become one of the world's top five economies by 2045, driven by energy, technology, and food security [5][6]. - The government’s "Golden Indonesia 2045" vision emphasizes the importance of energy in achieving economic success [6]. Operational Highlights - IEC has reported a significant increase in proved reserves, approximately 60% in the Kruh Block, and is preparing for drilling operations in the Citarum Block, which has potential billion-barrel equivalent reserves [11].

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 ...

Drilling and Exploration Challenges - The company experienced drilling difficulties in 2021 and 2022, leading to delays in its drilling program, with major drilling activities discontinued during parts of 2023 and 2024[37]. - The company expects to resume drilling in 2025, but there are no assurances of positive outcomes from these activities[37]. - The company has identified significant future drilling locations at Kruh Block and Citarum Block, but drilling success is dependent on various factors including capital availability and regulatory approvals[58]. - The company has experienced delays in its exploration and drilling schedule, which may continue to impact operations and financial results[64]. - The company may struggle to obtain special permits for drilling in forest areas, which could delay operations[111]. Financial Performance and Risks - Oil and gas price volatility has significantly impacted the company's revenues and cash flow, with historical fluctuations leading to reduced profitability[41]. - Sustained declines in oil and gas prices may render many of the company's projects economically unviable, potentially leading to significant downward adjustments in estimated proved reserves[51]. - Revenue, cash flows, and profitability are highly dependent on prevailing oil and gas prices, which are subject to volatility and can adversely affect capital expenditures[82]. - The company may not have sufficient capital resources in the future to finance all planned capital expenditures, which could limit operational plans[55]. - Volatility in oil and gas prices and drilling results will affect cash flow from operations, potentially reducing available financial resources for capital requirements[56]. Geopolitical and Economic Risks - The company faces risks related to geopolitical tensions, particularly the ongoing Russia-Ukraine conflict and the Israel-Hamas conflict, which could adversely affect global oil prices and market conditions[43][45]. - A proposed 32% tariff on imports from Indonesia by the U.S. could materially affect the cost competitiveness of Indonesian exports, including energy products[52]. - The company’s financial condition and results of operations may be adversely affected by changes in trade policies and global economic conditions, particularly due to heightened geopolitical tensions[52]. - Economic downturns in Indonesia could materially affect demand for the company's products and overall business performance[120]. - Prolonged regional conflict in Southeast Asia could significantly impact earnings and cash flow, with potential loss of property and business interruptions[131]. Regulatory and Compliance Issues - Regulatory compliance in Indonesia is complex and can lead to significant expenditures, with potential liabilities for non-compliance[91]. - The evolving regulatory landscape in Indonesia may increase compliance costs and impact operational plans, potentially affecting financial results[100]. - The uncertainty surrounding the Oil and Gas Law of 2001 and its amendments may increase operational costs and risks for the company[102]. - Changes in government policies regarding oil and gas exploration and production could adversely impact the company's business operations and financial condition[103]. - The company is subject to numerous environmental, health, and safety laws, which may result in material liabilities and costs[105]. Environmental and Operational Risks - The company must obtain environmental permits for operations, including drilling permits, and non-compliance could lead to fines or sanctions[106]. - Failure to meet environmental impact assessment obligations could lead to the nullification of the company's business license[107]. - The company could be held liable for environmental costs arising from its operations and those of its contractors, which may adversely affect financial results[108]. - Releases of regulated substances could result in significant remediation costs and liabilities for contamination at facilities and disposal sites[109]. - Climate change and related regulations could increase operating costs and decrease demand for oil and natural gas products[114]. Competition and Market Position - The company faces competition from larger oil and gas companies in securing rights to additional exploration blocks, which could limit revenue opportunities[61]. - The company may struggle to keep pace with technological advancements in the oil and gas industry, potentially placing it at a competitive disadvantage[63]. - The marketability of the company's production is significantly influenced by the availability and capacity of oil and gas gathering systems, pipelines, and processing facilities[79]. Capital and Financing - The company has historically financed capital expenditures through related and non-related party financings, including funds raised from its IPO in December 2019 and financing with L1 Capital in 2022[54]. - Under current capital and credit market conditions, obtaining additional equity or debt financing on acceptable terms may be challenging[177]. - If the company is unable to obtain additional financing, planned production and exploration activities may need to be scaled down or ceased[178]. - The company may raise additional capital through the sale of equity or convertible debt securities, which could dilute existing shareholders' ownership[200]. Shareholder and Governance Issues - The concentration of share ownership may adversely affect the trading price of the company's ordinary shares due to perceived disadvantages by investors[181]. - The Chairman and CEO, Wirawan Jusuf, owns approximately 38.31% of the company's ordinary shares, leading to significant concentration of voting power[180]. - Limitations on the ability of subsidiaries to distribute dividends could materially affect the company's ability to fund obligations and pay dividends to shareholders[147]. Market Trends and Future Outlook - The average price of Indonesia Crude Price (ICP) was $96.94 per barrel in 2022, 45% higher than the 2021 average of $67.02 per barrel, but declined to $77.61 per barrel in 2023[218]. - The Indonesian oil and gas sector contributed IDR 117 trillion to the Non-Tax State Revenue in 2023, accounting for 4.75% of total state revenue, showing a decline of 3.30% compared to 2022[221]. - Upstream oil and gas investment in Indonesia reached $13.7 billion in 2023, a 13% increase from $12.1 billion in 2022, surpassing the global growth rate of 6.5%[222]. - The Indonesian oil and gas market is projected to grow to 635.23 thousand barrels per day in 2024, with a CAGR of 1.60% to reach 687.70 thousand barrels per day by 2029[225]. - Natural gas production in 2023 was 6,630 MMSCFD, a 2.13% increase from 2022[227].

Core Viewpoint - Indonesia Energy Corporation (IEC) is set to provide an update on its production, future drilling, and development plans, including a new reserve report and a new corporate logo during an investor update conference call on January 21, 2025 [1][2]. Group 1: Production and Development Plans - IEC will discuss the completion of its 3D seismic program and current drilling plans for the Kruh Block, which is expected to see a significant increase in proved reserves by over 40% due to a recent contract extension with the Indonesian government [2][4]. - The Citarum Block, which has prospective oil-equivalent resources exceeding one billion barrels, will also be a focus, with plans for development operations moving forward in 2025 [5]. Group 2: Financial and Economic Improvements - The recent contract extension has increased IEC's after-tax profit split from 15% to 35%, representing an increase of more than 100%, which is expected to enhance the company's economic position [4]. - The company anticipates that the extended term of the Kruh contract will contribute positively to its overall reserves and financial outlook [4]. Group 3: Corporate Communication - The investor update will be conducted as a media and video interactive Zoom webinar, including a question-and-answer session to engage with shareholders and the investment community [3]. - IEC's new corporate logo and investor relations outreach program will also be unveiled during the call, indicating a strategic shift in its branding and communication efforts [1].