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The latest announcement is out from Indonesia Energy ( (INDO) ).
On May 27 and May 29, 2024, Indonesia Energy Corporation announced updates on its strategic vision and operations. The company plans to expand its focus beyond traditional hydrocarbons to embrace a more sustainable energy portfolio, aligning with Indonesia’s ‘Golden Indonesia 2045’ vision. Key updates include a 60% increase in proved reserves at the Kruh Block and promising geochemical survey results at the Citarum Block, which could lead to direct drilling operations. These developments position IEC to play a significant role in Indonesia’s energy sector transformation, potentially benefiting shareholders and supporting the country’s economic growth.
More about Indonesia Energy
Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. Its principal assets are the Kruh Block and Citarum Block located onshore in Indonesia. The company is headquartered in Jakarta, Indonesia, with a representative office in Danville, California.
Average Trading Volume: 189,977
Technical Sentiment Signal: Strong Sell
Current Market Cap: $35.05M
Find detailed analytics on INDO stock on TipRanks’ Stock Analysis page.