Indonesia Energy Corporation Responds to Inquiries Regarding Potential Rokan Producing Asset Acquisition
Indonesia Energy Corporation (NYSE American: INDO) has acknowledged ongoing discussions regarding a potential acquisition of a partial interest in the Rokan asset on Sumatra Island, which Chevron Corporation recently relinquished. During the Alliance Global Partners Energy Conference on September 21, 2021, President Frank Ingriselli confirmed these discussions, also noting similar talks about other assets to enhance the Kruh Block. No further details or confirmations were provided, and IEC cautioned that discussions may not lead to a definitive acquisition.
- Potential acquisition of the Rokan asset may enhance growth prospects.
- Strategic complement to existing Kruh Block asset.
- No assurances that discussions will continue or lead to a confirmed acquisition.
JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / September 21, 2021 / Indonesia Energy Corporation (NYSE American:INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today responded to inquiries and internet postings regarding its discussions related a potential acquisition by IEC of a partial interest in the Rokan producing asset located on Sumatra Island that was recently relinquished by Chevron Corporation.
During a previously announced participation at the Alliance Global Partners Energy Conference on Tuesday, September 21, 2021, IEC President Frank Ingriselli received inquiries regarding IEC's consideration of, and discussions related to, the potential acquisition of the recently relinquished Rokan asset by Chevron Corporation. In response, Mr. Ingriselli confirmed that IEC has had discussions with respect to this asset as it has had similar discussions regarding the acquisition of other assets to complement Kruh Block, IEC's producing asset. IEC is aware that there have been third party postings on social media and the internet regarding this matter.
No further comments, details or confirmations were made at the presentations. IEC further notes that no assurances can be given that discussions will continue or that the acquisition of any new producing assets will be consummated.
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 (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 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 www.indo-energy.com.
Cautionary Statement Regarding Forward-Looking Statements
All statements in this press release and in the presentation referenced herein 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, when used in the preceding discussion, the words "estimates," "believes," "hopes," "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 other than those of historical fact, about an action, event or development, are forward-looking statements. 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 risks, uncertainties, and other factors, many of which are outside of the IEC's control, that could cause actual results (including the results of the asset acquisition discussions referenced herein) 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, 2020 filed on May 17, 2021 with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC's website, www.sec.gov. 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
Frank.Ingriselli@Indo-Energy.com
SOURCE: Indonesia Energy Corporation Limited
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