Indonesia Energy Corporation (NYSE:INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced pre-drilling progress on its planned next two (2) wells at IEC's Kruh Block.

IEC remains on target to commence drilling at the first of these new wells before the end of this first quarter of 2026. The wells are expected to be drilled on a back-to-back basis.

Drilling pads for the next 2 wells (called the "K-29" and the "WK-5" wells) have been constructed for the K-29 well and delivered for the WK-5 well. Drilling pipe and drill bits and wellheads have been delivered. The drilling rig has been selected and is currently under inspection. In addition, procurement of the critical drilling explosives, tightly controlled by the Indonesian government, has been approved and the explosives have been transported to the designated warehouse.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.