FACT-MASTER
10月前
INDO:Indonesia Energy signs exploration agreement with Brazil’s Aguila
https://worldoil.com/news/2025/8/19/indonesia-energy-signs-exploration-agreement-with-brazil-s-aguila
August 19, 2025
Indonesia Energy Corporation (IEC), an E&P company focused on high-growth energy assets, has signed a Memorandum of Understanding (MOU) with Aguila Energia e Participações Ltda. (AEP), an affiliate of Rio de Janeiro–based investment firm Aguila Capital.
The MOU establishes a cooperative framework between the parties to jointly identify, evaluate, and pursue potential opportunities to acquire or participate in oil and gas or other energy-related assets and projects in Brazil. The cooperation combines IEC’s oil and gas and capital market experience with AEP’s capabilities in local Brazilian transactions, regulatory engagement and asset development.
“This collaboration marks an exciting first step by IEC to evaluate world-class opportunities beyond Indonesia in Brazil, a market that has become one of the most attractive for upstream investment,” said Frank Ingriselli, IEC's President. “Working with Blener Mayhew and his team will give us immediate local insight and access. In addition to opportunities in Brazil, AEP may also assist us in further commercializing our Indonesian assets and identifying new Indonesian domestic growth projects. Together with our planned drilling program at our Kruh Block, this initiative advances our growth strategy to scale production and diversify our portfolio in the final months of 2025 and beyond.”
“Brazil’s Oferta Permanente bid system allows year-round acquisition opportunities of relinquished and new exploration and production blocks, creating potential faster deal cycles once qualification and bid requirements are met," Ingriselli continued.
The announcement comes just a few weeks after IEC announced that it plans to drill two (2) back-to-back wells on its 63,000 acre Kruh Block in Indonesia commencing in the fourth quarter of 2025. This new drilling activities will be supported by the previously announced exploratory seismic work which was undertaken by IEC during 2024 and early 2025 that upgraded IEC’s wellsite prospects and drilling locations with a view towards maximizing production.
In May 2025, IEC reported that investments in Kruh Block and the 3D seismic work completed earlier this year resulted in a 60% increase in proved gross reserves.
The MOU is a non-binding statement of intent. IEC and AEP will seek to enter into appropriate definitive agreements for projects on an opportunity-by-opportunity basis.
FACT-MASTER
1年前
INDO: May 29/25 Press Release re: Citarum
https://finance.yahoo.com/news/indonesia-energy-provides-recently-completed-120000133.html
Indonesia Energy Corporation Limited
Geochemical survey completed confirming gas and oil presence in previous discoveries which will be the target of first well to be drilled by IEC at Citarum
JAKARTA, INDONESIA AND DANVILLE, CA, May 29, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced encouraging results from a regional geochemical survey conducted between September 2024 and March 2025 at IEC’s 195,000 acre Citarum Block which confirms the prospectivity of the key areas of this important asset.
A detailed analysis of 135 soil samples taken from Citarum Block pursuant to an export license granted by the Indonesian government was performed by the Geochemical Exploration Services Company of Denver, Colorado. The conclusion of this detailed analysis confirmed the presence of hydrocarbons in the Pasundan-1 well, the Jatayu-1 well and the Jonggol area. IEC believes that these results significantly reduces the risk of hydrocarbon exploration and positively confirms the ultimate development and exploitation at the Citarum Block.
This valuable analysis, when combined with all the previous data that IEC has on the Citarum Block, will potentially allow IEC to bypass the need to do any more seismic work on the block and allow IEC to move directly to the drilling phase.
The Citarum Block operates under a “gross split” regime pursuant to IEC’s contract with the Indonesian government for this asset. The effect of this is that once Citarum commences production, IEC will be entitled to at least 65% of the natural gas produced. Another benefit for IEC is that the next well it drills at Citarum (which would represent IEC’s initial drilling at Citarum) will be considered an “exploitation” well, meaning IEC will have the right to produce and commercialize any oil and gas discovered from this well without delays which were previously anticipated.
Mr. Frank Ingriselli, IEC's President, commented "We are excited about the significant results from this geochemical operation on our Citarum Block which we believe could provide a shortcut to drill our first well at this important asset and immediately begin production without the need to conduct seismic or drill an exploration well. This will move us potentially closer to realizing the value from Citarum which has prospective oil-equivalent resources of over one billion barrels.”
About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (195,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.
FACT-MASTER
1年前
Indonesia Energy to Hold Investor Conference Call to Provide Update on Future Drilling and Development Plans, Including a Planned New Reserve Report and its New Corporate Logo and Investor Relations Outreach
Indonesia Energy Corporation Limited
Estimated Ultimate Recovery (EUR) increase of 30% in Kruh Field
Webinar Media Interactive Call will be Held on
Tuesday, January 21 at 10AM Eastern Time
JAKARTA, INDONESIA AND DANVILLE, CA, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced that IEC senior management will hold an investor update conference call on Tuesday, January 21 at 10:00 a.m. Eastern Time to provide an update on future drilling and development plans, including a new planned reserve report and the unveiling of IEC’s new corporate logo and investor relations outreach program.
As a result of the 3-D seismic program and the 5-year extension of IEC’s government contract for Kruh Block, the estimated ultimate recovery (EUR) from the Kruh field alone is expected to increase by over 30% and reserves by over 40%. Additional fields increased EUR will be in the final updated reserve report.
Participating on the call from IEC will be President Frank Ingriselli and other members of IEC’s management team.
As part of its presentation, IEC will provide an update on its recently completed 3D seismic program and its current drilling program plans for its Kruh Block, as well as IEC’s plans for a new reserve report for Kruh Block. IEC will also provide an update on planned development operations for its Citarum Block which has prospective oil-equivalent resources of over one billion barrels.
The call will be a media and video interactive Zoom webinar and will include a question-and-answer session. The following are the details on how to join the conference call:
When: January 21, 2025 10:00 a.m. Eastern Time
Register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_qTpd6yclThqu8nCjbn9puA
A replay of the call will also be available on IEC’s website at https://ir.indo-energy.com/.
Mr. Frank Ingriselli, IEC's President, commented "We look forward to updating our shareholders and the investment community on our latest activities in the Kruh Block including the completion of our 3-D seismic program our plans to commence drilling and the significant improvements in our economics and reserves resulting from the 2023 contract extension with the Indonesian government which increases our after-tax profit split from the current 15% to 35%, an increase of more than 100%. In addition, given the 5-year extended term of our Kruh contract, we are expecting an increase in proved reserves at the Kruh Block by over 40%.
“Additionally, we are moving forward in 2025 with activities at our potential billion-barrel equivalent natural gas 650,000-acre Citarum Block, where the previous operator drilled several gas discoveries. In short, we’ve never been more excited about IEC’s potential, and we look forward to continuing our efforts as we seek to drive shareholder value," concluded Mr. Ingriselli.
About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (650,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release, the investor webinar referenced herein and related statements of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, the words “could,” "estimates," "believes," "hopes," "expects," "intends," “on-track”, "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release and the investor webinar referenced herein other than those of historical fact, about an action, event or development, are forward-looking statements. In this press release, forward-looking statements include, without imitation those related to IEC’s future drilling plans at Kruh Block (including the potential for a new reserve report and estimates for ultimate recovery and proved reserves for such asset) and development plans at Citarum Block. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of significant risks, uncertainties, and other factors, many of which are outside of the IEC's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2023, filed on April 26, 2024, and other filings with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC's website, www.sec.gov and IEC’s website at https://ir.indo-energy.com/sec-filings/. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Company Contact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com
https://finance.yahoo.com/news/indonesia-energy-hold-investor-conference-130000322.html
FACT-MASTER
2年前
INDO: CEO's vested stock accelerated
https://www.sec.gov/Archives/edgar/data/1757840/000149315224042536/ex99-1.htm
NOTE 10 – SHARE BASED COMPENSATION EXPENSES
On January 30, 2024, the Company issued 60,000 of the Company’s restricted ordinary shares to Frank Ingriselli, the Company’s President, pursuant to his employment agreement with the Company, with 30,000 shares vesting on July 1, 2024 and 30,000 shares vesting on January 1, 2025. Such ordinary shares were valued at $2.70 per share, which was based on the closing price of the shares traded on the NYSE American exchange on January 30, 2024.
NOTE 14 – SUBSEQUENT EVENTS
The Company evaluated all events that occurred up to October 24, 2024 and determined that no events that would have required adjustment or disclosure in the condensed consolidated financial statements except the following.
On August 22, 2024, 60,000 restricted ordinary shares that were issued to Frank Ingriselli, the Company’s President, as compensation became unrestricted.
As of the date of these interim condensed financial statements, a total of 2,981,253 ordinary shares have been issued through ATM and the Company has received aggregate net proceeds of $7,794,843 from January to September 2024 through issuance of ordinary shares through the ATM offering. A significant majority of these ordinary shares were issued subsequent to June 30, 2024. As such, as of October 24, 2024, the Company has approximately $5.61 million in cash and cash equivalents.
(more going on with INDO then war, imo.)
FACT-MASTER
2年前
INDO: Article of interest - Chevron to Sell Key Assets Worth $6.5 Billion to Canadian Natural
( Nice move by Chevron, imo, nice cash reserve to invest in a more business motivated country like Indonesia - INDO/Citarum block = natural gas)
Chevron Corporation CVX, a global leader in the energy sector, is taking significant steps to optimize its asset portfolio. Recently, its subsidiary, Chevron Canada Limited, announced a definitive agreement to divest critical assets to Canadian Natural Resources Limited CNQ, an oil and gas exploration and production company of Canada. This transaction, valued at $6.5 billion, marks a pivotal moment in CVX's strategy to streamline the company’s operations and focus on high-potential areas within its global portfolio.
Overview of the Transaction
Under this agreement, CVX’s subsidiary will sell its 20% non-operated interest in the Athabasca Oil Sands Project and 70% operated interest in the Duvernay shale, along with other related interests situated in Alberta, Canada. This sale aligns with CVX’s goal to divest between $10 billion and $15 billion in assets by 2028, aiming to enhance its operational efficiency and financial health.
Details of the Asset Sale
Assets being sold have been significant contributors to CVX's production. In 2023, these generated approximately 84 thousand barrels of oil equivalent per day net of royalties. This impressive output highlights the value of these assets not only for CVX but also for CNQ, which will inherit the operational complexities and potential of these projects.
Effective Date and Closing Timeline
The effective date for this transaction was set for Sept. 1, 2024. The agreement is anticipated to close during the fourth quarter of 2024, contingent upon regulatory approvals and other customary closing conditions. This timeline reflects CVX's commitment to a smooth transition, ensuring that all regulatory requirements are met efficiently.
CVX’s Strategic Divestment Goals
California-based integrated oil and gas company’s decision to divest assets in Canada is part of a broader strategic initiative aimed at reshaping its global portfolio. The company is focused on maximizing returns from its existing assets while strategically exiting lower-performing segments. By shedding non-core assets, CVX can concentrate on its most profitable operations and invest in innovative technologies and sustainable practices.
Market Implications
This move not only highlights CVX's proactive approach to asset management but also signals potential shifts in the energy landscape of North America. This acquisition allows CNQ to bolster its presence in Alberta’s rich oil sands and shale formations, positioning it for growth in a market that remains pivotal to global energy needs.
A Strategic Acquirer for CNQ
CNQ is well-positioned to integrate these assets into its operations. With a robust portfolio and experience in managing similar assets, CNQ stands to benefit significantly from this acquisition. The addition of CVX's interests will enhance CNQ's production capabilities and market competitiveness.
Impacts on Production and Revenues
For CNQ, acquiring Chevron's interests will contribute not just to immediate production levels but also to long-term revenue streams. The projected production increase from the acquired assets represents a crucial step toward achieving CNQ's growth targets and sustaining its status as one of Canada’s leading oil and gas producers.
Sustainability Considerations in Asset Management
In the context of increasing global emphasis on sustainability, CVX’s divestment strategy also reflects a growing trend among major oil companies to reassess its environmental impact. By optimizing the company’s asset base and focusing on sustainable energy solutions, Chevron is aligning itself with market demands and regulatory pressures aimed at reducing carbon footprints.
Investments in Clean Energy
As part of its broader strategy, Chevron has committed to investing in renewable energy sources and technologies. The divestment from conventional oil and gas assets allows the company to reallocate capital toward these initiatives, fostering a more sustainable energy future.
A Strategic Path Forward for Chevron
Overall, the divestiture of CVX’s interests in the Athabasca Oil Sands Project and the Duvernay shale highlights a significant transition in its strategic focus. As CVX seeks to optimize its global energy portfolio, this transaction serves as a clear indicator of the company’s commitment to adapt to market dynamics while reinforcing its position within the energy sector. As CVX embarks on this new chapter, stakeholders will closely monitor the outcomes of this strategic decision, which may set a precedent for future transactions in the rapidly evolving energy landscape.
FACT-MASTER
2年前
INDO: Indonesia Energy to Present at H.C. Wainwright 26th Annual Global Investment Conference
Indonesia Energy Corporation Limited
President Frank Ingriselli Will Present Update on Development and Drilling Plans
JAKARTA, INDONESIA AND DANVILLE, CA, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced its President, Frank Ingriselli, will be presenting at the H.C. Wainwright 26th Annual Global Investment Conference on Tuesday, September 10 at 3:30PM EST. The in-person venue for the event is the Lotte New York Palace Hotel in New York City. IEC will provide an update on its recently completed 3D seismic program and its anticipated continuous drilling program for its Kruh Block and also an update on planned development operations for its Citarum Block which has prospective oil-equivalent resources of over one billion barrels.
H.C. Wainwright 26th Annual Global Investment Conference
Date: Tuesday, September 10, 2024
Time: 3:30PM EST
Place: Lotte New York Palace Hotel, 455 Madison Avenue, New York, NY
The presentation will also be available for replay at IEC’s website for 30 days at:
https://ir.indo-energy.com/events-and-presentations/
Mr. Frank Ingriselli, IEC's President, commented "We look forward to returning to the H.C. Wainwright Conference so that we can discuss our recently completed 3D seismic operations along with our future operational and development plans for both the Kruh Block and the Citarum Block. We believe we have world class assets that should contribute to the Company’s strategic plan to maximize returns on our investments and grow shareholder value.”
About Indonesia Energy Corporation Limited
Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (650,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com.
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