Lion Energy: Approved to test Lofin Gas Field discovery

Lion Energy Approved to test Lofin Gas Field discovery

• Lion Energy (LIO) will soon undertake a test of the Lofin-2 well, located onshore of Indonesia, following approval from joint venture partners
• The test work is aimed at improving the understanding of the reservoir characteristics and according to LIO, is critical to planning commercialisation of the wider Lofin gas field
• The Seram (NonBula) PSC joint venture parties plan to conduct the test in mid 2022 following receipt of the required long lead items
• A staged development plan is anticipated with potential for initial gas sales during extended well testing, the results of which will guide the full development plan
• Company shares have been trading grey at 6.1 cents