Indonesia Energy Corp Ltd

Update to Kruh Block Drilling Program

As part of the original 18 wells drilling program, two wells were drilled in 2021 and two wells were drilled in 2022, for a total of four wells. We previously planned to complete the rest of 14 wells after the interpretation of the newly acquired three-dimensional seismic data is completed. Following the completion of seismic acquisition, processing and interpretation in 2024 and 2025, we identified four additional drilling locations and incorporated them into its drilling program. We plan to drill four new wells at these locations. The first well, K-29, was spudded on July 25, 2026, and drilling operations commenced on the same date. The well reached a total measured depth of approximately 3,378 feet, and drilling operations were completed in August 2026. We therefore modified our drilling plan for Kruh Block with an anticipation to drill one more well in 2026. The remaining planned 16 wells will be drilled between 2027 and 2030, depending on the availability of funding necessary to conduct such activity.

With the amended KSO contract providing higher profit share and extension of five years production period effective in August 2023, besides the completion of drilling 14 remaining wells, additional drilling program would maximize the net cash flow and net present value of Kruh field development. With the completion of a high quality 3D seismic program in the Kruh Block in June 2024, additional drilling locations have been identified. We anticipate that the results of this seismic work will support the commencement of our continuing drilling program, which includes two back-to-back wells. The first well, K-29, was spudded on July 25, 2026, and drilling operations commenced on the same date. The well reached a total measured depth of approximately 3,378 feet, and drilling operations were completed in August 2026. The actual production operations at K-29 are expected to commence in late September 2026. Following the completion of the K-29 well, the Company plans to commence drilling activities at the WK-5 as part of the drilling program and the drilling rig used at the K-29 well has been mobilized and is on its way to the WK-5 wellsite. The WK-5 well, is expected to be completed by the end of 2026. We also plan to conduct a continuous drilling program from 2027 through 2030 in the Kruh, West Kruh and North Kruh fields over the next four years to maximize production, during which it expects to drill 16 new wells, subject to the availability of capital and other financing, regulatory approvals and permits, the availability of drilling equipment and services, market conditions, and other factors beyond the Company’s control. The timing and number of wells ultimately drilled may differ materially from the Company’s current plans.