Indonesia Energy Corporation Earnings Call Transcripts
Fiscal Year 2026
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K-29 well has reached total depth with promising oil flow, and production results are expected within two weeks. Plans are in place to drill WK-5 and 16 more wells over three years, aiming for cash flow positivity and leveraging significant resource potential in both oil and gas.
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Indonesia-focused energy producer is drilling two new wells in Sumatra, aiming to reduce costs and achieve cash flow positivity by year-end. A major natural gas asset near Jakarta offers long-term growth, with first drilling planned for 2027.
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Recent seismic work led to two new drilling sites, with K-29 well set to start by June's end and WK-5 in August. Citarum Block, a major gas asset, targets first drilling by year-end, with partnerships sought for its $500M–$1B development.