Movers and SHAKERS
Indonesia Energy Corp (INDO)
First Investor Conference Call Highlights Growth Opportunities
Indonesia Energy Corp Ltd is an oil and gas exploration and production company focused on Indonesia. It holds two oil and gas assets through its subsidiaries in Indonesia: one producing block (the Kruh Block) and one exploration block (the Citarum Block). The Kruh Block is located to the northwest of Pendopo, Pali, South Sumatra. The Citarum Block is located to the south of Jakarta.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
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INDO management held their first ever conference call with the investment community. The company brought the full slate of its management team located both in Jakarta and California, including the Founder & CEO, President, Chief Investment Officer, COO and Chief Development Officer. The call mainly outlined its previously-announced drilling plans, but there were a few new items of interest.
Drilling plans on track. The company is moving "full steam ahead" with its drilling plans despite lower oil prices. The company is finalizing bidding the drilling process and expects to drill the first of six oil wells in the Kruh Block in September. Each well will take ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.