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Indonesia Energy ( (INDO) ) has shared an update.
On July 23, 2025, Indonesia Energy Corporation announced plans to commence drilling two new wells at the Kruh Block in the fourth quarter of 2025. This initiative is part of the company’s broader strategy to drill a total of 18 wells at the site, supported by exploratory seismic work completed in 2024 and early 2025. The drilling will involve a 750 horsepower rig, with the first well, Kruh-29, expected to start production by year-end. This development follows a reported 60% increase in proved gross reserves at the Kruh Block, highlighting the potential for increased production and shareholder value.
More about Indonesia Energy
Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company focused on acquiring and developing strategic, high-growth energy projects in Indonesia. The company’s principal assets include the Kruh Block, a 63,000-acre site onshore on the Island of Sumatra, and the Citarum Block, a 195,000-acre site onshore on the Island of Java. Headquartered in Jakarta, Indonesia, IEC also maintains a representative office in Danville, California.
Average Trading Volume: 3,008,199
Technical Sentiment Signal: Sell
Current Market Cap: $40.63M
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