|Bid||3.50 x 2200|
|Ask||6.70 x 1200|
|Day's Range||5.80 - 5.99|
|52 Week Range||3.26 - 11.87|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||10.00|
Plan to drill 3 Back-to-Back Production Wells at Kruh Block JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / March 9, 2021 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that the company has mobilized the drilling rig to drill 3 back-to-back producing wells at its 63,000 acre Kruh Block.Each of the 3 wells are expected to average production of 173 barrels of oil per day over the first year of production.
Drill site preparations are completed and supporting services are in progress. The mobilization of the drilling rig is expected within the next 5 days and the first well is expected to commence drilling within 30 days.
This recognition is especially significant as IEC plans to begin this calendar quarter its new drilling campaign to drill a total of 5 wells in 2021, 6 wells in 2022 and 7 wells in 2023, for a total of 18 new wells on the Kruh Block. Frank Ingriselli, IEC's President, commented: "Indonesia, with a more than 100-year history of welcoming international energy companies from around the world, has selected Indonesia Energy Corporation as the 3rd best energy production company in Indonesia.