Monitor production commencement and flow rate updates from K-29; the YouTube Live presentation on September 3 may provide further operational details. If flow rates are material, this could partially offset the going concern risk highlighted in the FY2025 20-F.
Price Chart
Executive Summary
Indonesia Energy Corp announced oil discovery at the K-29 well in the Kruh Block, with natural oil seepage during testing and production expected to commence in weeks. This is a positive operational milestone for a company facing severe financial distress (going concern, revenue decline per prior 20-F), but the discovery's commercial significance remains unquantified.
Key Facts
- Oil discovered at K-29 well; total depth 3,378 feet; spud on July 25, 2026
- Perforation gun naturally seeping oil — viewed as very good result; well may produce without fracturing
- Production operations expected to commence in the next couple of weeks
- Drilling rig mobilized to WK-5 well for continuation of 2026 drilling program
- K-29 and WK-5 are within IEC's ~63,000-acre Kruh Block in Sumatra, Indonesia
Financial Impact
Positive but unquantified — no production rates or reserve estimates provided; potential to improve cash flow from current $2.01M annual revenue
Risk Factors
- Production delays or lower-than-expected flow rates
- Continued negative operating cash flow and reliance on ATM financing
- No quantification of reserves or economic viability of the discovery
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-041258 |
| Exhibit: ex99-1.htm | 0001493152-26-041258 |
| Document: 0001493152-26-041258-index-headers.html | 0001493152-26-041258 |
| Document: 0001493152-26-041258-index.html | 0001493152-26-041258 |
| Document: 0001493152-26-041258.txt | 0001493152-26-041258 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d 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%) |
US Market Status
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