Indonesia Energy Corp Ltd (INDO)

[FACT-MASTER]

Review Kruh 27

https://ih.advfn.com/stock-market/AMEX/indonesia-energy-INDO/stock-news/88076218/indonesia-energy-discovers-oil-at-kruh-27-the-fir

The Kruh 27 well was spudded on April 7, 2022. On May 9, 2022, the drilling reached the final total depth at 3,359 feet depth. It took only 32 days to drill to total depth, less than the 45 days previously budgeted. Approximately 132 feet of oil sands were encountered at Kruh 27 between the depths of 3,058 and 3,190 feet. This oil-bearing interval (meaning the top of the oil zone to the bottom of the oil zone) in the Kruh 27 well was 14 feet thicker and therefore larger than anticipated, meaning that the total reserve potential for Kruh 27 could be larger than anticipated. Based on these drilling results, IEC expects production to begin at Kruh 27 by the end of May 2022.