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Yahoo
27-05-2025
- Business
- Yahoo
Indonesia Energy Provides Update on Operations and Reserves and Planned Drilling During the Remainder of 2025
JAKARTA, INDONESIA AND DANVILLE, CA, May 27, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today provided an update on IEC's planned drilling activity for the second half of 2025. During 2024, IEC scaled back drilling activity at its Kruh Block asset and invested in seismic and other exploration work intended to maximize the prospects for new drilling. With that work now completed, new drilling is expected to commence at Kruh Block in the second half of 2025, as IEC plans to drill at least one new well this year as part of its multi-year program to drill 18 new wells at Kruh Block. In its recently filed Annual Report on Form 20-F, IEC updated its proved gross reserves at Kruh Block, noting that IEC's proved reserves increased over 60% to approximately 3.3 million barrels as a result of the additional seismic and other work conducted in 2024 and the 5-year contract extension granted in late 2023 by the Indonesian government. Mr. Frank Ingriselli, IEC's President, commented "We are pleased that our investments in Kruh Block and the 3D seismic work we have now completed resulted in a 60% increase in our proved gross reserves (even without any additional drilling activity). After attending meetings with the technical and operating teams in Jakarta and meetings with the drilling and operating teams in Sumatra, we are finalizing the drilling plans for later this year. With a successful result from our next well, we are hopeful that a further increase in reserves will be forthcoming. We believe our seismic data in hand will make our drilling even more effective and help us maximize the returns from this important asset' More information regarding IEC's planned drilling activities and reserve details for the Kruh Block and the Citarum Block can be found in IEC's Annual Report on Form 20-F which was filed last month with the Securities and Exchange Commission and is available on IEC's website at: 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 (195,000 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 Cautionary Statement Regarding Forward-Looking Statements All statements in this press release, and related statements 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, the words 'could,' "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. In this press release, forward-looking statements include, without imitation those related to IEC's future drilling plans at Kruh Block. 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 significant 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, 2024, filed on April 29, 2025, and other filings with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC's website, and IEC's website at 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. IngriselliPresident, Indonesia Energy Corporation
National Post
29-04-2025
- Business
- National Post
AbCellera Presents Data Showing Preclinical Efficacy of PSMA x CD3 T-Cell Engagers at AACR 2025
Article content VANCOUVER, British Columbia — AbCellera (Nasdaq: ABCL) today announced new data on its PSMA x CD3 T-cell engagers (TCEs), presented as a poster at the American Association for Cancer Research Ⓡ (AACR) 116th Annual Meeting at the McCormick Place Convention Center in Chicago, Illinois, taking place April 25 to 30, 2025. Article content Targeting prostate-specific membrane antigen (PSMA) with a CD3 TCE could provide an effective treatment option for metastatic castration-resistant prostate cancer (mCRPC). In its poster presentation at AACR, AbCellera demonstrated that its PSMA x CD3 TCEs show promising preclinical activity, including: Article content Potent in vitro tumor-cell killing, with one molecule showing ~10x higher EC 50 than benchmark Sustained in vitro activity across four rounds of serial T-cell killing Preclinical in vivo efficacy, with significant tumor growth inhibition in a xenograft mouse model Potential for enhanced potency when combined with costimulatory PSMA x CD28 bispecifics Article content 'The preclinical data package presented at AACR is the first demonstration that our novel CD3-binders can be used to generate molecules with potent anti-tumor efficacy in vivo, ' said Adam Clarke, Ph.D., SVP, Discovery at AbCellera. 'The poster underscores the strength of our TCE platform strategy, which is to combine diverse CD3- and tumor-binding antibodies and use empirical testing to engineer optimized therapeutic candidates. In addition, the data strongly support the use of costimulation to further increase anti-tumor activity.' Article content CD3 T-cell engagers have the potential to be a cornerstone of cancer treatment. They guide the immune system to find and eliminate cancer cells by binding tumor targets and the CD3 protein on cancer-killing T cells at the same time. However, the development of T-cell engagers has been limited due to challenges with efficacy and safety. To address these challenges, AbCellera developed a T-cell engager platform that includes novel CD3-binding antibodies to expand the therapeutic window for this modality and costimulatory building blocks to enhance efficacy for difficult-to-treat cancers. Article content About AbCellera Biologics Inc. Article content AbCellera (Nasdaq: ABCL) discovers and develops antibody medicines for indications across therapeutic areas, including cancer, metabolic and endocrine conditions, and autoimmune disorders. AbCellera's platform integrates technology, data science, infrastructure, and interdisciplinary teams to solve the most challenging antibody discovery problems. AbCellera is focused on advancing an internal pipeline of first-in-class and best-in-class programs and collaborating on innovative drug development programs with partners. For more information, please visit Article content This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management's current beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize, and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations. Article content In some cases, you can identify forward-looking statements by the words 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing' or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors are described under 'Risk Factors,' 'Management's Discussion and Analysis of Financial Condition and Results of Operations,' and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law. 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