“Lion Energy is an Indonesian focused oil and gas exploration & production company. It has secured two new long tenure conventional gross split tax and royalty PSC’s located on Seram Island, East Indonesia. Lion’s unique value proposition is providing investors exposure to the Seram (Non Bula) PSC containing the transformational 2TCF Lofin Gas discovery, and the producing Oseil oil field.”
Recent Corporate Activity
- The company completed its marine seismic operations in the Bula Bay and Kobi Area of Seram Island in the East Seram PSC during the fourth quarter of 2020. Interpretation of data planned to be finalised in Q2 2021.
- Farm out efforts are ongoing for a further 10% divestment of East Seram by the Company.
- Seram (Non-Bula) Block PSC production for the quarter was 3,502 bbls net to Lion.
- Cash at end of Q4 2020 was US$0.633m (excluding joint-venture cash and latest lifting), a decrease of US$0.14m from the end of Q3 2020.
Tightly held and thinly traded company that is short on cash and trying to farm out its East Seram PSC tenement. Not a lot to like here to be honest. I noticed the share price had been a little volatile recently and couldn’t find a thread on it, so thought I’d get one started.