Indonesia Energy files 2024 annual report, provides update on operations

Indonesia Energy (INDO) 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 report is an update on IEC’s planned drilling activity for the second half of 2025. During 2024, IEC curtailed drilling activity at its Kruh Block asset in lieu of investing in seismic and other exploration work intended to maximum the return on new drilling. That drilling is expected to commence in the second half of 2025, as IEC plans to drill at least one new well this year as part of its multi-year program to drill 18 new wells at Kruh Block. Frank Ingriselli, IEC’s President, commented “We are pleased to have filed our year end 2024 annual report, which shows our investments in Kruh Block as we look to recommence drilling activity this year. We believe our seismic data in hand will make our drilling even more effective and help us maximize the returns from this important asset.”