Hello, everyone. Thank you for attending the H.C. Wainwright 28th Annual Global Investment Conference. With us today, Frank Ingriselli, President of Indonesia Energy Corp. Take it away. Thank you. Well, good morning, or I guess just noontime, so good afternoon, everybody here in the East Coast, or good morning in California, and I guess nighttime or good morning in Indonesia. I'm Frank Ingriselli, as mentioned, President of Indonesia Energy, but I'm glad here today we've got James Huang sitting here, who was one of the founders of Indonesia Energy and is a Director of the company and Chief Investment Officer. We also have Charlie Wu, who is the Chief Technology Officer of Indonesia Energy and is a proud Texan, having gotten his PhD at the University of Texas. Good morning, everyone. Here, it's a nice good morning here. You can see the young lady looking out in Sumatra. So, a beautiful place, and I was there just recently. Our cautionary statement. Here, Indonesia Energy. We went public in December of 2019 on the New York Stock Exchange, a direct IPO. I haven't mentioned this in the most recent presentations, but when we did that IPO on the New York Stock Exchange in December of 2019, then we rang the opening bell on Valentine's Day, February 14th 2020, then we were hit with COVID, so things happened there. What was interesting is, here we are, Indonesia, and people don't know sometimes a lot about Indonesia. Fourth largest country in the world. When we went public, it was China, India, United States, Indonesia. Now it's actually India, China, United States, Indonesia. Fourth largest country in the world. The number one economy in Southeast Asia, and the seventh largest economy by GDP in the world. So Indonesia isn't just going to Bali on a honeymoon. Indonesia is a major country operating in the world. Member of the G20, member of BRICS. What have we done since we went public in December of 2019? By the way, first Indonesian company to ever do an IPO on the New York Stock Exchange. First one. A country that's the number one in Southeast Asia, the first company. That's why we had so many dignitaries when we rang that opening bell there. Well, what have we done? We've drilled four successive oil discoveries. They were successful, but not as successful as we wanted. What did we do? We did something that I heard and got a lot of emails, and from investors, and the team did that, "How come you're not drilling any wells? How come you're not drilling? What we did was something that might be boring to investors, but very important and insightful to the company, which is we went out and we did some 3D seismic. That 3D seismic tried to improve and find better places to drill so that we could be more economically efficient with better production rates moving forward in the company. We did that. We still got delayed in trying to drill these next few wells, but we did start to drill, and as we note here, our 2025, 2026 program, we completed that 3D seismic. But most important is that we commenced new drilling operations in July of 2026. Just less than two months ago, we started to drill that next well, which was our K-29 well. We successfully completed that well to a total depth of about 3,400 ft, and that well was a discovery. We'll have a picture here later on. Right now, we're in the middle of production operations. I'm not here today to make an announcement of what that production rate is, but keep your eyes posted. We will provide that information. What's happened is that drilling rig has moved from K-29 to our next well site, WK-5. It's just a few kilometers away, and it's moving over there. It's all left the K-29 site. I think as Charlie mentioned to me yesterday here, that it's now being reassembled at the new site a few kilometers away. We'll start drilling that next well. With those two wells, we should be in a position to really double the cash flow, the production that the company has, or even more than double it where we are right now. I think if I'm right, Charlie, we're about 150 barrels of oil per day is where our production is right now. But we will hopefully blow through that. The other is that we did commence some operations on our 195,000-acre Citarum Block, and I'll talk more about that. That's a 30-year natural gas block on the island of Java. Here are some pictures. Here's the drilling rig at our K-29 well site. Visiting here to the drilling. But here, this is a pipe which shows just a natural seepage of oil coming out from that K-29 well. That was exciting when we pulled that out and that core sample, and it's just naturally seeping oil. So a very good sign for this well, K-29. Our assets, again, Kruh Block, that's about 65,000 acres on the island of Sumatra. Our Citarum Block, 195,000 acres. By the way, we're here in Manhattan. That's about 15 times the size of Manhattan Island, to give kind of a perspective of size. But we'll talk a little more in particular about our Kruh Block and the 65,000 acres there. Indonesia growth opportunities. I mentioned number one economy in Southeast Asia, seventh largest in the world by GDP. The GDP growth for Indonesia has essentially been above 5% for the last, probably 14 years, and the only dip it took was during COVID, when everything stopped. We couldn't move equipment from island to island. Flights were restricted. Very difficult time. Indonesia, as I mentioned before, fourth largest country in the world. Official language, while it's Indonesian, English is the main spoken language. Our contracts are all in English. It's a very seamless operation to be a public New York Stock Exchange company and be operating in Indonesia. The growth for demand and energy. When you've got a country that's been growing at a clip of over 5% GDP growth for the last 14 years, that's going to drive the demand for energy. Energy demand is growing at a clip of over 5% across the board, whether it be electricity, oil, natural gas, it's all growing at a very large clip. I'll bring that up with one. Actually, I'm going to go to the next slide here. Indonesia isn't in a vacuum in terms of the energy industry. It's had a rich history, actually 100 years of people investing in the oil industry there. I think the original company was Shell, was the first one, international company operating. You see the logo of every company in the world operating throughout all the different islands, onshore and offshore Indonesia. I'll just bring that up to me personally. I joined Indonesia Energy about a year before its IPO. I worked on trying to make the IPO happen with the rest of the team. My history is I've been 45 years in this industry. Started at Texaco Inc, had positions of President of Texaco International Operations. Left Texaco as President of Texaco Technology Ventures. When I left Texaco 2001, the biggest asset for Texaco in the world was in Indonesia. Number one, biggest producing asset. Chevron, which took over Texaco, the second biggest asset for Chevron in the world, producing asset, was Indonesia. Together, we were producing 1 MMbpd. I think from a discussion we had with some analysts today, Indonesia is producing about 600,000 bpd. Just our two companies were producing much more. Chevron website will tell you they produce 13 billion barrels of oil, over $1 trillion of cash flow. A very important place. When the bankers called me up and say, "Hey, we want to introduce you to this company, Indonesia Energy," I thought, "Wow, that was the biggest asset when I left as President of Texaco Technology, when I left there in 2001. I'm going to come back." I've never looked back since. A great place to be working. The Kruh Block, our producing cash flow asset. We've got several wells working now. It shows production here. Actually, our production is higher than what that is right now. Our 65,000, approximately 65,000 acres. What I really want to do is go to. Here are some pictures of doing our 3D seismic time in the field. Let me stop right here. Kruh single well economics. When analysts say, "Are you going to make a projection of what your production is going to be next year? What will your cash flow be?" Or whatever. We're not making projections quarter to quarter where we're going to be. Tell them just to open up this slide, because what this slide tells you is we told the marketplace what we're producing right now, and they can see what our cash flow is. But what this slide tells you right here is the well we just drilled was about $1.8 million. It is being drilled to 3,000, went to 3,400 ft. If you take a production rate, and this is not making a prediction of what it would be, but it just gives you a snapshot. So an analyst could work when we do give our production numbers. But if you had 125 barrels of oil a day coming from this one well, at $70 a barrel and $80 a barrel, we are priced approximately at Brent with a slight discount. So if you are at $70 a barrel or at $80, let us use $80 since we are above $100 right now. But at $80 a barrel, we would produce net cash flow of over $2 million. So $1.8 million to drill, $2 million back in your net cash. That is telling you you got 100% rate of return wells that you are producing from. So that is why we are going to move forward right now with a WK-5 well and additional wells in our continuous drilling program. Decline rates. We note here that we have a decline rate of about 13%. I have had some people say to me, "Wow, that seems like a high number." You know what? 13% is a very low number. Previous company I founded, PEDEVCO Corp, we were drilling shale wells. What is their decline rate? Like 40%+ a year. So these are actually very good decline rates coming in. But somebody wants to know what our production is going to be. So if you started at 100 bpd here, we give a chart for three years, month by month, what our production will be every month for the next three years. Anybody who wants to kind of figure out where will we be in terms of cash flow, production, or whatever, take this chart. It tells you everything about this asset and shows you how incredibly economic this asset is. A cash cow, as we call it. Now let us talk about the other asset we have, where we have not done much work, but we will be doing work. We have done a little bit just recently. Our Citarum Block, that is located on the island of Java. Java is the main island in Indonesia. It is where the capital city of Jakarta is. I just looked at something today. It is still the largest city, I think it said 45 million people in Jakarta, the largest city in the world. We are here sitting on 200,000 acres. You can see it here. It used to be 1 million acres, but we relinquished some of it so that we can focus on the most important part of that acreage where some of the discoveries have been made. So we are here. Jakarta city is about 20 mi, 30 mi away from the edge of our block. So kind of think of it, you got 15 Manhattans sitting over in New Jersey somewhere, only about 20 mi away, and that is the asset that we have. An incredible asset, incredible, huge upside for the company. We have a great company with just our Kruh Block and the cash cow that we are going to keep continuous drilling on, but this is the big upside for the company in the future. What has happened at this asset? There was a previous company called Pan Orient, and Pan Orient was traded on the Toronto Stock Exchange. They basically went bankrupt about a decade ago, because oil prices falling. What happened was they had to actually spend $40 million and drilled four natural gas discoveries. Unfortunately, because of their moving into bankruptcy, they couldn't continue their work there. They had to withdraw from that permit and that asset. We successfully bid on that and won that asset and own 100% of this. Here we are sitting with these four discoveries and what are we going to do? We're going to go out there with the first well we're going to drill, and we're going to drill parallel to one of those discoveries. We can't reenter that well. You just can't do it. We're going to drill parallel to one of those. Our confidence level, and the drill bit will determine if we're right, but our confidence level is very high about drilling that well and successfully completing it with a large natural gas discovery. People always say, well, with natural gas, it's not quite as transportable as oil or whatever. But Indonesia has a lot of gas. You can see around here some of the red blocks that are producing gas. Here's our block here. You've got infrastructure all around going up towards Jakarta City. We might tie in a little bit to one of those. We might have to put a little tie in, but that will be with de minimis cost to get this well producing these wells we drill with natural gas in a country that is paying about $14 for LNG coming in. Right here in the U.S., we're under $3 an MMBtu. Regular natural gas being produced here is about $7. We're talking about a 100% increase in the what the realized price is here in the U.S. A major, enormous opportunity for us. Discovery's already in place. We're going to drill those. It's really not an exploration project. This is really an appraisal development program that we're moving forward with. Our management team, as I mentioned, we've got James Huang, one of the founders and Directors here right now. Charlie Wu right here as our Chief Technology Officer and the rest of us here. Dr. Wirawan Jusuf was one of the founders, myself, our CFO. He served with me on some of my prior New York Stock Exchange companies that I founded. Has enormous oil and gas experience. He lives in the same town where I am in California. The rest of our team, some of those were Board of Directors. We've got some more Board of Directors. Our financial expert on the board, Mike Peterson, has been with me with my last two startups on the New York Stock Exchange. An enormous amount of experience from the oil industry and also as an executive, 10 years at Goldman Sachs. A great management team, great Board of Directors giving us guidance to the company. Closing out, we completed that 3D seismic, found the best places to drill. We're hopeful that with these wells, we'll try to drive our production cost to below $20 a barrel. We drilled this first successful well, K-29. Starting production, started production operations of it. Moving on to our next well. We increased our estimated ultimate recovery from the field alone by 40% recently. As I mentioned, drilled four discoveries. We plan to commence operations on this billion-barrel resource play in the very near term. Maintain a good balance sheet. We have no debt, only cash on the books. We're going to be focusing on drilling, our continuous drilling operation in our Kruh Block and moving forward with our Citarum Block. We feel great about the company. We feel finally very satisfied that we got these two wells being drilled. But we did it the smart way by trying to figure out the best place to drill those wells. I'll end it there, and thank you very much. If I have any questions from anybody
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