Indonesia Energy Corporation Limited
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $43.1M
- Price
- $2.80
- % Change (Daily % change from the live per-ticker quote feed.)
- +1.08%
- Volume
- 31.0K
About
Indonesia Energy Corporation Limited is an oil and gas exploration and production company operating within Indonesia. Its assets include a stake in the Kruh Block, a currently producing field situated northwest of Pendopo, Pali, South Sumatra. This block spans 258 square kilometers and contains 1.52 million barrels of proven net crude oil reserves. Additionally, the company holds an interest in the Citarum Block, a 3,924.67-square-kilometer exploration area located onshore in West Java. Established in 2018 with its headquarters in Jakarta, Indonesia, the company operates as a subsidiary of Maderic Holding Limited.
Quick stats
Shares outstanding15.4M
Computed float9.9M
Float / shares64.5%
Cash runway (months)12.7
Key info
SectorEnergy
IndustryOil & Gas Exploration & Production
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001757840
Websitehttps://www.indo-energy.com
AI Summary
AI-generated1/15
minorbullishoperations update
Indonesia Energy Celebrates Oil Production from K-29 Well and Rig-Up at New WK-5 Well Location
Indonesia Energy announced oil production from its K-29 well on the 63,000-acre Kruh Block in Sumatra, with output sold to state-owned Pertamina.
The same rig is being assembled at the WK-5 location, with spudding anticipated by end of October; WK-5 will be drilled to ~5,200 feet to test additional formations, including potential natural gas, identified via 3-D seismic.
The company is also planning a hydraulic fracturing operation on K-29 to maximize production, which currently runs roughly 60% oil with a 40% water cut.
Red flags
- high 40% water cut at K-29
- no production volumes or rates disclosed