Indonesia Energy Corp Ltd

Indonesia Energy Corporation announced significant progress on its drilling operations at Kruh Block, confirming the rig was successfully lifted and safety checks completed. The company remains on schedule for drilling the first of two planned wells, with rig setup complete and internal testing underway. The K-29 well's installation and setup are finished, and function testing is expected to conclude by mid-June 2026, keeping the late June 2026 spud date on track.

Indonesia Energy Corporation announced that its President, Frank Ingriselli, will provide an update on the drilling of the K-29 well at Kruh Block during a presentation at the Planet MicroCap Conference on June 17, 2026. Pre-drilling operations for the K-29 well have already commenced and remain on schedule. Mr. Ingriselli will travel to Indonesia to be onsite for the drilling operations, emphasizing the importance of the K-29 and WK-5 wells to the company's development strategy and its focus on unlocking value from its Indonesian assets.

Indonesia Energy Corporation announced the completion of rig mobilization for its K-29 well, the first of two planned wells at its 64,000-acre Kruh Block in 2026. Despite industry-wide operational challenges like flooding and diesel shortages, the company successfully advanced preparations. The K-29 well is expected to spud in late June 2026, with drilling at the WK-5 well to follow, capitalizing on strengthened global oil prices.