Indonesia Energy Moves Forward With Two New Wells at Kruh Block, Where Pre-Drilling Operations Have Commenced

Company to present at upcoming DealFlow Discovery Conference on January 28

JAKARTA, INDONESIA AND DANVILLE, CA, Jan. 09, 2026 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced pre-drilling progress on its planned next two (2) wells at IEC’s Kruh Block.

IEC remains on target to commence drilling at the first of these new wells before the end of this first quarter of 2026. The wells are expected to be drilled on a back-to-back basis.

Drilling pads for the next 2 wells (called the “K-29” and the “WK-5” wells) have been constructed for the K-29 well and delivered for the WK-5 well. Drilling pipe and drill bits and wellheads have been delivered. The drilling rig has been selected and is currently under inspection. In addition, procurement of the critical drilling explosives, tightly controlled by the Indonesian government, has been approved and the explosives have been transported to the designated warehouse.

Mr. Frank Ingriselli, IEC's President, stated "We are excitedly moving forward with our plans to commence drilling of the next 2 wells planned on our 64,000-acre Kruh Block which I will visit during operations onsite in Sumatra. We will keep the marketplace updated as we embark on this exciting period. We believe we have world class assets in Indonesia that should contribute to our strategic plan to maximize returns on our investments and grow shareholder value.”

IEC also announced that Mr. Ingriselli will be making a presentation on January 28, 2026, at the upcoming DealFlow Discovery Conference taking place in Atlantic City, New Jersey where he will provide more updates on the drilling operations. More details on this presentation will be disclosed the week before the conference, including how to listen and view the presentation. In addition, a new updated corporate presentation to be used at the conference will likewise be available prior to the conference on the Company’s website: ().

About Indonesia Energy Corporation Limited

Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (64,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (195,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit .

Cautionary Statement Regarding Forward-Looking Statements

All statements in this press release, the conference presentation described herein, and related statements of Indonesia Energy Corporation Limited (“IEC”) and its representatives and partners that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, the words “explore,” “could,” "estimates," “seek,” "believes," "hopes," “understand,” "expects," "intends," “on-track”, "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release and at the conference described herein, other than those of historical fact, about an action, event or development, are forward-looking statements. In this press release, forward-looking statements include, without limitation those related to IEC’s development, drilling and exploration plans at its Kruh Block. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of significant risks, uncertainties, and other factors, many of which are outside of the IEC's control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2024, filed on April 29, 2025, and other filings with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC's website,  and IEC’s website at . IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact:

Frank C. Ingriselli

President, Indonesia Energy Corporation Limited