Monitor WK-5 spudding results and any subsequent production updates for signs of production growth that could address the going concern risk. The K-29 frac operation outcome is also a near-term catalyst.
Price Chart
Executive Summary
Indonesia Energy Corp issued a press release on October 6, 2026, announcing that its President led a delegation to the Kruh Block to celebrate oil production from the recently drilled K-29 well and to visit the WK-5 well location, where rig assembly is underway for spudding by end of October. The filing provides operational updates but contains no new financial data, production volumes, or revenue figures, and the company remains under a going concern warning from its FY2025 20-F filed 160 days ago.
Key Facts
- K-29 well is producing oil with approximately 60% oil and 40% water cut, sold to Pertamina via jack-pump and dewatering
- WK-5 well spudding anticipated by end of October 2026, planned depth of approximately 5,200 feet (vs K-29 at ~3,400 feet)
- Hydraulic fracturing operation planned on K-29 to maximize production
- Company's FY2025 20-F (filed April 29, 2026) showed revenue down 24.5% to $2.01M, net loss of $5.1M, negative operating cash flow of $5.4M, and a going concern opinion
Financial Impact
No financial figures provided in this filing; prior annual report showed $2.01M revenue and $5.1M net loss
Risk Factors
- Going concern opinion from FY2025 audit remains unresolved without material production increase or financing
- WK-5 is an exploration well targeting deeper formations; drilling results are binary and uncertain
- Company relies on ATM financing for liquidity per prior filing; no update on cash position provided
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-045955 |
| Exhibit: ex99-1.htm | 0001493152-26-045955 |
| Document: 0001493152-26-045955-index-headers.html | 0001493152-26-045955 |
| Document: 0001493152-26-045955-index.html | 0001493152-26-045955 |
| Document: 0001493152-26-045955.txt | 0001493152-26-045955 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | $2.62 | awaiting T+20 | — | $2.64 (+0.76%) |
Oct 6, 2026 21d ago | 6-K | $2.77 | awaiting T+20 | — | $2.64 (−4.69%) |
Sep 24, 2026 4w ago | 6-K | $2.81 $2.73 | ▲ +2.85% | ▲ +1.37% | $2.64 (+6.05%) |
Sep 2, 2026 7w ago | 6-K | $3.11 $2.67 | ▼ −14.15% | ▼ −12.96% | $2.64 (−15.11%) |
Aug 13, 2026 10w ago | 6-K | $2.98 $3.07 | ▲ +3.02% | ▲ +5.01% | $2.64 (−11.41%) |
May 28, 2026 21w ago | 6-K | $2.87 $2.80 | ▼ −2.44% | ▼ −0.65% | $2.64 (−8.01%) |
Apr 29, 2026 25w ago | 20-F | $3.37 $2.87 | ▲ +14.84% | ▲ +19.80% | $2.64 (+21.66%) |
Apr 27, 2026 26w ago | 424B5 | $3.27 $2.91 | ▲ +11.01% | ▲ +16.48% | $2.64 (+19.27%) |
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