Indonesia Energy Corporation Begins Oil Production from K-29 Well
Indonesia Energy Corporation (NYSE American: INDO) marked a significant milestone in early October 2026 with the commencement of oil production from its K-29 well in the Kruh Block, Sumatra. President Frank Ingriselli led a delegation to celebrate the event and inspect preparations for the upcoming WK-5 well, which is set to be drilled by the end of the month.
The WK-5 well, targeting a depth of approximately 5,200 feet, is deeper than the K-29 well and aims to explore additional formations identified through IEC’s 3-D seismic program, including a potential natural gas-bearing formation. Both wells are located within IEC’s 63,000-acre Kruh Block on Sumatra. The company also announced plans to conduct a hydraulic fracturing operation on K-29 to maximize production, which currently consists of approximately 60% oil and a 40% water cut.
Frank Ingriselli expressed enthusiasm about the progress, stating, 'I was extremely pleased to lead our delegation to the Kruh Block to celebrate production from K-29 and to visit the WK-5 location as we prepare to spud this exciting new well. WK-5 will be drilled significantly deeper than K-29 and is designed to test additional formations identified by our 3-D seismic program. We believe these formations have the potential to add significant value to IEC.'
Additionally, IEC highlighted its recent feature in a CNBC interview, which showcased the company as part of a segment on innovative microcap companies. Videos of the K-29 production, the WK-5 site visit, and the CNBC interview are available on IEC’s website.