BRIEF-Lion Energy Executes Farm-Out Agreement With Existing Partner Opic East Seram Corporation

Reuters

Jan 06

BRIEF-<a href="https://laohu8.com/S/LIO.AU">Lion Energy</a> Executes Farm-Out Agreement With Existing Partner Opic East Seram Corporation

Jan 6 (Reuters) - Lion Energy Ltd LIO.AX:

EXECUTED FARM-OUT AGREEMENT WITH EXISTING PARTNER OPIC EAST SERAM CORPORATION
OPIC WILL FUND 88% OF THE DRILLING COST FOR BULA KARANG EXPLORATION WELL
LION’S NET FUNDING OBLIGATION WILL BE 12% OF $5.6 MILLION WELL COST ESTIMATE, AND IT WILL HOLD 45% STAKE IN THE PSC

Further company coverage: LIO.AX

((Reuters.Briefs@thomsonreuters.com;))

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