BUZZ-Australia's Lion Energy climbs to 3-1/2-month high on Indonesian project funding
Reuters
Jan 06
BUZZ-Australia's <a href="https://laohu8.com/S/LIO.AU">Lion Energy</a> climbs to 3-1/2-month high on Indonesian project funding
** Shares of Australia's Lion Energy LIO.AX rise as much as 136.3% to A$0.017, their biggest intraday pct gain in four years
** Stock touches its highest level since September 16
** The oil and gas explorer says it has secured farm-out agreement with partner OPIC East Seram Corporation (OPIC), a unit of Taiwan-based CPC Corporation
** Co says OPIC to fund 88% of drilling cost for Bula Karang exploration well in Indonesia
** Adds that co's net funding obligation will be 12% of $5.6 million well cost estimate and will hold 45% interest in project
** Lion Energy stock down 42.1% in 2025
(Reporting by Aamir Sheik Khalid in Bengaluru)
((Aamir.SheikKhalid@thomsonreuters.com))
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