Indonesia Energy Provides Update on Operations and Reserves and Planned Drilling During the Remainder of 2025

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].