IndonesiaEnergy Corporation (NYSE: INDO) shares moved higher Monday. The company, an oil and gas exploration and production concern, focused on Indonesia, today announced that it will host a YouTube Live presentation featuring its President, Frank Ingriselli, on Thursday, September 3, at 12:15 p.m. Eastern time/9:15 a.m. Pacific Time.
During the live presentation, Mr. Ingriselli will provide an update on IEC’s latest operations, including the drilling of the new K-29 will at Kruh Block, and will take questions live from viewers.
IEC also announced that the K-29 well, which was spudded on July 25, has reached a total depth of 3,378 feet. IEC has submitted proposed perforation intervals to Pertamina, Indonesia’s state-owned oil and gas company, in preparation for commencing testing operations.
Following completion and testing operations at K-29, IEC plans to commence drilling operations at the WK-5 wellsite as part of its ongoing Kruh Block drilling program. Preparatory operations at the WK-5 wellsite are progressing as planned.
Both K-29 and WK-5 are located within IEC’s approximately 63,000-acre Kruh Block on the island of Sumatra, Indonesia.
INDO shares acquired 11 cents, or 4%, to $2.89.
