Indonesia Energy Corporation (INDO) EnerCom Denver – The Energy Investment Conference summary

Strategic positioning and market context

• Operates in Indonesia, the fourth largest country and largest economy in Southeast Asia, with a strong oil and gas history and 6% annual GDP growth except during COVID.

• Became the first Indonesian company to IPO on the NYSE in December 2019, highlighting unique access and recognition.

• Indonesia's oil production has declined, making it an importer and creating opportunities for local producers with favorable terms.

• Receives Brent pricing for oil and premium prices for natural gas, with gas fetching twice the US price.

Operational updates and drilling plans

• Drilled four oil wells since 2022, with current focus on two new wells in the Kruh Block, aiming to reduce production costs from $28 to $20 per barrel.

• K-29 well is currently drilling in Sumatra, targeting a total depth of 3,500 ft, with the rig set to move to a nearby location for the next well.

• Successful production from these two wells is expected to make the company cash flow positive by year-end.

• Used 3D seismic data to select optimal drilling locations after initial wells underperformed.

Financial outlook and economics

• Each new well costs $1.8 million to drill, with expected production of 125 bbl/day and net cash flow over $2 million at $80 Brent, yielding over 100% return.

• Annual burn rate is about $4 million; two new wells could cover this and drive profitability.

• Decline rates and economic models are provided for investor analysis, though no formal quarterly guidance is issued.