Indonesia Energy Makes NYSE American Section 610(b) Public Announcement
Indonesia Energy Corporation Limited (NYSE American: INDO) disclosed in its Annual Report on Form 20-F for the year ended December 31, 2020, that the audit opinion from its independent accounting firm includes a going concern qualification. This announcement, made on May 17, 2021, complies with NYSE American Company Guide Section 610(b), emphasizing the importance of the audit opinion without altering the financial statements. The company, focused on energy projects in Indonesia, highlighted its principal assets, including the Kruh Block and Citarum Block.
- The company's assets include the Kruh Block (63,000 acres) and Citarum Block (1,000,000 acres), indicating potential for growth.
- The audit opinion includes a going concern qualification, indicating potential financial difficulties.
JAKARTA, INDONESIA and DANVILLE, CA / ACCESSWIRE / May 18, 2021 / Indonesia Energy Corporation Limited (NYSE American:INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that, as disclosed in its Annual Report on Form 20-F for the year ended December 31, 2020 (the "Form 20-F") filed today, May 17, with the Securities and Exchange Commission, IEC's audited financial statements for the year ended December 31, 2020 included in the Form 20-F contained an audit opinion from its independent registered public accounting firm which included a going concern qualification paragraph.
This announcement is made pursuant to NYSE American Company Guide Section 610(b), which requires separate public announcement of the receipt of an audit opinion containing a going concern paragraph. This announcement does not represent any change or amendment to IEC's audited financial statements for the year ended December 31, 2020 or to the Form 20-F.
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 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 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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https://www.accesswire.com/647931/Indonesia-Energy-Makes-NYSE-American-Section-610b-Public-Announcement
FAQ
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