Indonesia Energy Corporation (IEC), which trades on the NYSE American under the ticker INDO, announced on September 9, 2025, that it has initiated operations on the first of two planned wells at its 63,000-acre Kruh Block. The company's president, Frank Ingriselli, made this announcement during his presentation at the 27th Annual Global Investment Conference hosted by H.C. Wainwright. He confirmed that the drilling pad for the forthcoming “K-29” well has been built and that the necessary drilling pipes have already been delivered. IEC has made updated visual materials—including photographs and the conference presentation—available on its investor relations website for stakeholders to review.
Ingriselli expressed enthusiasm about entering this “exciting period” for IEC, noting its confidence in the quality of its Indonesian assets. He added that while operations for the K-29 well are poised to begin, the company is still awaiting government approvals for its equipment and rig tenders. The goal remains to advance drilling activity, optimise returns, and enhance shareholder value.
