Core Viewpoint - Indonesia Energy Corporation (IEC) has confirmed the presence of hydrocarbons in its Citarum Block through a recent geochemical survey, which is expected to expedite the drilling of its first well and subsequent production [1][2][5]. Group 1: Geochemical Survey Results - A regional geochemical survey conducted from September 2024 to March 2025 confirmed the presence of gas and oil in key areas of the Citarum Block, which spans 195,000 acres [1]. - The analysis of 135 soil samples indicated hydrocarbons in the Pasundan-1 well, Jatayu-1 well, and Jonggol area, significantly reducing exploration risks [2]. Group 2: Drilling and Production Plans - The positive results from the geochemical survey may allow IEC to skip further seismic work and proceed directly to drilling [3]. - The next well drilled at Citarum will be classified as an "exploitation" well, enabling IEC to produce and commercialize any discovered oil and gas without anticipated delays [4]. Group 3: Resource Potential - IEC estimates that the Citarum Block has prospective oil-equivalent resources exceeding one billion barrels, which could enhance the company's value [5]. Group 4: Company Overview - Indonesia Energy Corporation Limited is engaged in the acquisition and development of high-growth energy projects in Indonesia, with principal assets including the Kruh Block and Citarum Block [6].