Indonesia Energy Corp to Begin Drilling New Wells in 2026

Written by Emily J. Thompson, Senior Investment Analyst

Updated: 15 Jan 26

Indonesia Energy Corporation's stock fell 15.47% as it crossed below the 5-day SMA amid positive market conditions with the Nasdaq-100 and S&P 500 both up.

The company has completed construction of drilling pads for two new wells, K-29 and WK-5, at the Kruh Block, with drilling set to commence in Q1 2026. This initiative is expected to enhance oil and gas output, thereby strengthening the company's competitive position in the Indonesian market. Additionally, the delivery of drilling equipment and the ongoing inspection of the drilling rig aim to ensure operational readiness, which could improve efficiency and mitigate risks.

The strategic focus on high-quality assets in the Kruh Block, covering 64,000 acres, is anticipated to support long-term growth and shareholder value. President Frank Ingriselli's upcoming presentation at the DealFlow Discovery Conference on January 28, 2026, is expected to further enhance investor confidence and market interest in the company's future developments.

INDO

$4.075+Infinity%1D

Analyst Views on INDO

About INDO

Indonesia Energy Corporation Limited is an independent energy company engaged in the oil and gas business. The Company holds two oil and gas assets through its subsidiaries in Indonesia: The Kruh Block and the Citarum Block. It has also identified a potential third exploration block known as the Rangkas area. The Kruh Block is a producing block covering approximately 258 square kilometers and is located 16 miles northwest of Pendopo, Pali, South Sumatra. Of the eight identified oil-bearing structures, three structures (North Kruh, Kruh, and West Kruh fields) have combined proved developed and undeveloped gross crude oil reserves of approximately 2.06 million barrels (with net crude oil proved reserves of over 1.18 million barrels) and probable undeveloped gross crude oil reserves of over 2.44 million barrels. The block has drilled over four oil discoveries and one gas discovery. The Citarum Block, an exploration block, spans an area of approximately 3,924.67 square kilometers.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Indonesia Energy Corp to Begin Drilling New Wells in 2026

Analyst Views on INDO

About INDO

About the author

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