Indonesia Energy Corporation Advances Kruh Block Production with K-29 and WK-5 Wells

Indonesia Energy Corporation (IEC) has begun oil production from its newly drilled K-29 well at the Kruh Block in Sumatra. The company is also gearing up to start drilling the deeper WK-5 well by the end of October. Site preparation and rig assembly are already underway at WK-5, utilizing the same drilling rig that was used for K-29. The new well is expected to reach a depth of approximately 5,200 feet, significantly deeper than K-29's 3,400 feet.

WK-5 will target additional formations identified through IEC's 3D seismic program, which includes a potential natural gas-bearing formation. Both wells are located within IEC's 63,000-acre Kruh Block. Frank Ingriselli, president of IEC, expressed enthusiasm about the progress, stating, "We are excited by the progress at Kruh and look forward to the upcoming drilling of WK-5 as we continue working to increase production and unlock the potential of our assets in Indonesia."

At K-29, IEC is preparing to conduct a hydraulic fracturing operation to boost production. Currently, the well is producing with a jack pump while undergoing dewatering, with fluids consisting of approximately 60% oil and 40% water. The oil from K-29 is being separated into storage tanks, combined with production from IEC's other wells, and sold to Pertamina, Indonesia's state-owned oil and gas company.

IEC has not disclosed the current production rate for K-29. The deeper WK-5 well is intended to evaluate additional exploration potential identified by the company's seismic program as it works to expand production from the Kruh Block.