Indonesia Energy Corporation (INDO) H.C. Wainwright 28th Annual Global Investment Conference summary

Strategic milestones and operational highlights

• Completed a 3D seismic survey to optimize drilling locations, leading to the commencement of new drilling operations in July 2026.

• Successfully drilled and completed the K-29 well, which is now in production, and initiated drilling at the WK-5 site.

• Current production is approximately 150 barrels of oil per day, with expectations to double or more as new wells come online.

• Continuous drilling program is underway, supported by strong well economics and a low decline rate of about 13%.

• Production costs are targeted to drop below $20 per barrel, with a focus on maximizing cash flow and efficiency.

Asset portfolio and growth opportunities

• Kruh Block (Sumatra) spans 65,000 acres and serves as the primary cash flow asset, with several producing wells and ongoing drilling.

• Citarum Block (Java) covers 195,000 acres near Jakarta, offering significant upside with four existing natural gas discoveries.

• Plans to drill parallel to previous discoveries at Citarum, leveraging existing infrastructure and high local gas prices.

• Indonesia's energy demand is growing over 5% annually, driven by robust GDP growth and a favorable investment climate.

• Estimated ultimate recovery from the main field increased by 40%, supporting long-term development.

Financial position and management

• No debt and a strong cash position support ongoing and future drilling activities.

• Well economics show a 100% rate of return, with a $1.8 million well yielding over $2 million net cash at $80/barrel.

• Management team and board bring extensive oil and gas and financial expertise, including prior NYSE experience.

• Focus remains on disciplined capital allocation and maintaining a healthy balance sheet.

• Strategic approach aims to maximize shareholder value through operational efficiency and asset development.