Lion Energy Limited (“Lion” or “Company”; ASX: LIO) is pleased to advise that the Indonesian Minister for Energy and Mineral Resources, Mr Ignasius Jonan, announced that Lion Energy Ltd has been awarded the East Seram Block. He announced this in the opening session of the Indonesian Petroleum Association’s Annual Convention.
Trading Halt
Notice of Annual General Meeting/Proxy Form
Quarterly Cashflow Report
Quarterly Activities Report
Appendix 4G and Corporate Governance Statement
Annual Report to shareholders
Full Year Statutory Accounts
Lion to focus on production and development
Lion Energy Limited (“Lion” or “Company”; ASX: LIO) advises that following an internal strategic review of its oil and gas portfolio, the Company has decided to direct its resources to acquiring oil and gas producing, or near term producing assets in SE Asia, whilst looking to dispose those current assets considered non-core.
In line with this revised strategy, the Company will retain the Seram PSC core production and cash flow asset, which it acquired in May 1999, and intends to further build its portfolio via acquisition of, or farm-in to, additional interests in producing assets and will review other opportunities considered complimentary to such assets. The Company also intends to pursue operatorship in any new ventures where the position is available.
Non-core assets are those that the Company consider higher risk conventional exploration and unconventional assets, specifically all other conventional assets and the unconventional inventory of completed joint studies and joint studies in process, other than any joint study in process considered complimentary to core assets either held of being considered.
Service Agreement with Exec.Chairman and Exec Director
Lion Energy Limited (“Lion” or “Company”; ASX: LIO) advises that it has entered into service agreements with Mr Tom Soulsby to fill the role of Executive Chairman and Mr Damien Servant (Executive Director). Key terms of the agreements are as follows
