Indonesia Energy Corp Ltd INDO

Energy Oil & Gas E&P

Indonesia Energy Corporation Limited is an independent energy company that is engaged in the oil and gas business with operations primarily in Indonesia. The Company holds two oil and gas assets through its subsidiaries in Indonesia: Kruh block and Citarum block. The Company also identified a potential third exploration block known as the Rangkas area. The Kruh block is a producing block covering an area of approximately 258 (square kilometers) km2 and is located 16 miles northwest of Pendopo, Pali, South Sumatra. Out of the total eight proved and potentially oil-bearing structures in the Kruh block, three structures (North Kruh, Kruh and West Kruh fields) have combined proved developed and undeveloped gross crude oil reserves of approximately 2.06 million barrels (net crude oil proved reserves of 1.18 million barrels) and probable undeveloped gross crude oil reserves of 2.44 million barrels. The Citarum Block is an exploration block covering an area of approximately 3,924.67 km2.

NYSEAM:INDO - Post by User

Indonesia Energy Corp Ltd > INDO Potential looks impressive; but can they deliver?

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Post by endinsighton Feb 27, 2020 12:07pm

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Post# 30741604

INDO Potential looks impressive; but can they deliver?

What are your thoughts on the potential here?

https://pr.report/sDazhQ3e

The KRUH block is locked in under Joint Operation Partnership (KSO) with Pertamina until 2030. INDO has approved work plans that include 6 wells before end of this year (increasing cash flow) positioning the company for further exploration in this block.

Are there any holes here?

COVID-19 and global demand are increasing downward pressure to Brent oil prices but once the virus problem dies down and US/China trade deal progresses to resolution (both expected within a year) this stock could give a great return for longs.

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