Indonesia Energy Corporation LimitedINDO
Scheduled
Indonesia Energy Corporation Limited H.C. Wainwright 28th Annual Global Investment Conference
Review the key takeaways and the transcript of this earnings call.
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Key takeaways
- Indonesia Energy went public on the New York Stock Exchange through a direct IPO in December of 2019, becoming the first Indonesian company to do an IPO on the New York Stock Exchange.
- The company has drilled four successive oil discoveries and completed 3D seismic to identify better drilling locations and improve production rates and economic efficiency.
- Indonesia Energy commenced new drilling operations in July of 2026, successfully completed the K29 well to a total depth of about 3,400 feet, and is currently in production operations.
- The drilling rig has moved from K29 to the nearby WK5 well site, where it is being reassembled for the next drilling operation.
- Current production is approximately 150 barrels of oil per day, and the company said the K29 and WK5 wells should put it in a position to double cash flow and production, or more than double it.
- The Crew block covers approximately 65,000 acres on Sumatra, while the Situram block covers 195,000 acres on Java and is a 30-year natural gas block.
- The company said its Crew block well cost about 1.8 million dollars to drill and was drilled to 3,400 feet, and described the asset as a cash cow with a continuous drilling program.
- Indonesia Energy owns 100% of the Situram block, which includes four prior natural gas discoveries, and described the planned work as an appraisal development program rather than an exploration project.
- The company said it has no debt and only cash on the books.
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