Indonesia Energy Corporation Limited announced that the company has commenced drilling operations at the first of its two back-to-back producing wells (this first well is named the K-27 well) at its 63,000-acre Kruh Block. Drilling at K-27 commenced on April 7, 2022. K-27 has a target total depth of 3,400 feet, and it is expected to take approximately 45 days to complete all drilling operations.

The commencement of drilling represents a milestone in IEC's previously announced plan to drill two new wells at Kruh Block. As an update to the drilling plan timing for 2002, IEC plans to commence drilling of the second new well (called K-28) immediately following the completion of the K-27 well. A third new well new well at Kruh Block is anticipated to commence drilling in the June-July 2022 timeframe, and likely a fourth new well sometime before the end of 2022.

These wells are the continuation of IEC's previously announced drilling campaign to complete a total of 18 new production wells in Kruh Block by the end of 2024.