InvestSMART

Lion Energy Limited (ASX:LIO)

ALERT: Price-sensitive ASX Announcement for LIO
Current share price for LIO : $0.013 -0.005 (-27.78%)+
Announcement
Release
29 Apr 2026 11:22AM
Price at Release
$0.018
Full Release
download
Summary
Lion Energy Limited reported significant progress in their oil and gas operations in the first quarter of 2026, focusing on the Bula Karang-1 exploration well within the East Seram PSC, Indonesia. Most regulatory approvals were secured, and a drilling contract was executed with Silver City Drilling for a Schramm TDX-200 hydraulic rig. Lion retains a 45% interest in the well, with OPIC East Seram Corporation funding 88% of the drilling costs. The Bula Karang prospect targets a shallow carbonate reef with a 12 mmbbl prospective resource. Additionally, Lion's hydrogen project at the Port of Brisbane saw curtailed activities due to market conditions, though key project rights were preserved.
Key Points
  • Significant progress in Bula Karang-1 exploration well.
  • Regulatory approvals and drilling contract secured.
  • Lion retains 45% interest, OPIC funding 88% of costs.
  • Bula Karang prospect targets 12 mmbbl resource.
  • Curtailed activities in Port of Brisbane hydrogen project.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.