JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / March 16, 2020 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that, notwithstanding the recent drop in oil prices and global outbreak of the novel coronavirus, it remains on track to move forward with its 2020 plans to drill and complete six new production wells on its 63,000 acre Kruh Block, located on the island of Sumatra. Utilizing the proceeds from its December 2019 initial public offering, drilling operations at Kruh are expected to commence in the second quarter of 2020 concurrently with commencement of the previously announced renewal of IEC’s operator contract with the Indonesian government. IEC also expects to commence planned exploration activities at its 1,000,000-acre Citarum Block on the Java near Jakarta.
