6-K
Indonesia Energy Corp Ltd (INDO)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM6-K
REPORTOF FOREIGN PRIVATE ISSUER PURSUANT TORULE 13A-16 OR 15D-16 UNDER THE SECURITIESEXCHANGE ACT OF 1934
For the month of January 2021
Commission File Number: 001-39164
Indonesia Energy Corporation Limited
(Translation of registrant’s name into English)
c/oDea Tower I, 11th Floor, Suite 1103
Jl. Mega Kuningan Barat Kav. E4.3 No.1-2
Jakarta, Indonesia 12950
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ________.
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ________.
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATIONCONTAINED IN THIS FORM 6-K REPORT
Effective as of January 22, 2021, the board of directors (the “Board”) of Indonesia Energy Corporation Limited (the “Company”) appointed Michael L. Peterson as a director and member of the Board. The appointment of Mr. Peterson to the Board was necessary to fill a vacancy on the Board created by the January 19, 2021 voluntary resignation, for personal reasons, of Roderick de Greef as a director.
Mr. Peterson qualifies as “independent” for purposes of the rules of the Securities and Exchange Commission and the NYSE American market, and he will serve as Chairman of the Audit Committee of the Board. Mr. Peterson’s biographical information is as follows:
From 2011 to 2018, Mr. Peterson served in several executive officer positions at Pedevco Corp. (NYSE American: PED), a public company engaged primarily in the acquisition, exploration, development and production of oil and natural gas shale plays in the United States. These positions included as Chief Executive Officer, President, Chief Financial Officer and Executive Vice President. Since August 2016, Mr. Peterson has served as an independent director on the board of TrxAde Group, Inc. (NASDAQ: MEDS), a web-based pharmaceutical market platform headquartered in Florida. From 2006 and 2012, he served in several executive positions at Aemetis, Inc. (formerly AE Biofuels Inc.), a Cupertino, California-based global advanced biofuels and renewable commodity chemicals company. These positions included as Interim President, Director and Executive Vice President. From December 2008 to July 2012, Mr. Peterson also served as Chairman and Chief Executive Officer of Nevo Energy, Inc. (formerly Solargen Energy, Inc.), a Cupertino, California-based developer of utility-scale solar farms which he helped form). From 2005 to 2006, Mr. Peterson served as a managing partner of American Institutional Partners, a venture investment fund based in Salt Lake City. From 2000 to 2004, he served as a First Vice President at Merrill Lynch, where he helped establish a new private client services division to work exclusively with high-net-worth investors. From September 1989 to January 2000, Mr. Peterson was employed by Goldman Sachs & Co. in a variety of positions and roles, including as a Vice President with the responsibility for a team of professionals that advised and managed over $7 billion in assets. Since Mr. Peterson’s retirement from Pedevco in 2018, he has served as the President of the Taipei Taiwan Mission of The Church of Jesus Christ of Latter-day Saints, in Taipei, Taiwan. Mr. Peterson received his Master degree of Business Administration at the Marriott School of Management and a Bachelor’s degree in statistics/computer science from Brigham Young University.
On January 25, 2021, the Company issued a press release regarding the appointment of Mr. Peterson. Such press release is filed as Exhibit 99.1 to this report.
EXHIBITINDEX
Exhibit
| 99.1 | Press Release dated January 25, 2021 |
|---|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| INDONESIA ENERGY CORPORATION LIMITED | ||
|---|---|---|
| Date:<br> January 25, 2021 | ||
| By: | /s/ Dr. Wirawan Jusuf | |
| Name: | Dr.<br> Wirawan Jusuf | |
| Title: | Chief<br> Executive Officer and Chairman<br><br> <br>(Principal Executive Officer) |
Exhibit99.1
IndonesiaEnergy Corporation Announces Appointment ofMichael L. Peterson to Board of Directors
Experiencedenergy industry and finance executive to serve asChairman of IEC’s Audit Committee
JAKARTA,INDONESIA AND DANVILLE, CA, Monday, January 25, 2021 - Indonesia Energy Corporation (NYSE American: INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that the company’s Board of Directors has appointed Michael L. Peterson to the Board. Mr. Peterson will serve as an independent Board member and will also serve as the Chairman of the Audit Committee of the Board of Directors.
Mr. Peterson has over 30 years of experience in executive management positions in all aspects of the energy industry and finance industries, having served as a director and officer of several public companies, including Pedevco Corp. (NYSE American: PED), TRxADE Group, Inc. (NASDAQ: MEDS) and Aemetis, Inc. (formerly AE Biofuels Inc.) (NASDAQ:AMTX). Mr. Peterson also has financial industry experience including over 10 years at Goldman Sachs where he served as Vice President and subsequently serving as First Vice President at Merrill Lynch.
Dr. Wirawan Jusuf, Chairman and CEO of IEC, commented, “We are pleased to welcome Michael to the IEC Board of Directors. We believe his experience will greatly assist IEC in its financial and governance activities as we move to deliver on our business plans to generate positive operating cash flow within the next 12 months.”
Mr. Frank Ingriselli, President of IEC, added, “I am very excited that Michael will be joining IEC as a new Director and the financial expert on the Board. I have known and worked with Michael for over 10 years in California, including working together when we founded Pedevco in 2010 and together ran that company for over 8 years. I believe that Michael’s global experience, including in Asia, will assist IEC as we enter 2021 with the goal of implementing our new drilling plans and increasing our production at Kruh Block and growing shareholder value.”
Mr. Peterson joins the IEC Board of Directors following the voluntary resignation of Roderick de Greef from the Board of Directors for personal reasons. Dr. Jusuf continued, “On behalf of our entire Board of Directors, I would like to thank Roderick de Greef his service and contributions to IEC as an independent director and audit committee chairman, and we wish him the best in his future endeavors.”
AboutIndonesia 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.
CautionaryStatement 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,” “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, without limitation, any impact of the new board member described 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 Form 20-F for the fiscal year ended December 31, 2019 filed with the Securities and Exchange Commission (SEC). Copies of the Company’s SEC reports are available on the SEC’s website, www.sec.gov, as well as the Company’s website, www.indo-energy.com. IEC undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
CompanyContact:
Frank C. Ingriselli
President, Indonesia Energy Corporation Limited
Frank.Ingriselli@Indo-Energy.com