Lion has a dual conventional and unconventional strategy with the aim to become a significant participant in the Asian upstream energy sector. In the current subdued oil industry market the opportunity exists to prudently build on our producing position and expand our low risk exploration and appraisal portfolio.
Key aspects to our strategy:
- Build value in our existing conventional Indonesian assets, including our producing Eastern Indonesian Seram (Non-Bula) PSC and our North Sumatran South Block A PSC, through close managerial/technical involvement and prudent investment.
- Continue an active new business program targeting new conventional onshore oil and gas production as well as conventional exploration acreage with a clear pathway to production. As an example, we have recently acquired additional right to a highly attractive additional area in Eastern Indonesia and continue to review exciting producing opportunities in the region.
- Maintain and prudently expanding as appropriate, our significant unconventional rights in Sumatra. Our ability to leverage conventional exploration will allow us to de-risk unconventional potential in a cost effective manner with the initial focus on unlocking the hydrocarbon saturated tight sandstone and carbonate oil and gas plays. Elsewhere in the world, tight reservoirs have proven highly prospective and are more akin to conventional plays. With our current rights to over 8000 km2 net unconventional acreage in some of the most prolific onshore basins in Asia, Lion is well placed to become a major unconventional player as market sentiment improves in this sector.
- Maintain a highly skilled team while keeping a tight rein on costs.