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Lion Energy Limited ( (AU:LIO) ) has shared an announcement.
Lion Energy Limited has agreed to sell its 2.5% minority interest in the Seram Non-Bula PSC in Indonesia to Vista Energy for approximately US$1.2 million. This divestment, which follows a strategic portfolio review, will allow Lion to reinvest the proceeds into its East Seram PSC exploration program, focusing on the Bula Karang oil prospect. The sale is expected to reduce Lion’s exposure to negative cash forecasts and commitment work programs, while enhancing its focus on more promising exploration opportunities in East Seram.
More about Lion Energy Limited
Lion Energy Limited is an ASX-listed oil and gas exploration and production company with interests in conventional and high-impact production sharing contracts in Seram Island, Indonesia. The company is also venturing into the green hydrogen sector, aiming to establish Southeast Queensland’s first commercial-scale green hydrogen production and distribution hub.
Average Trading Volume: 174,718
Technical Sentiment Signal: Sell
Current Market Cap: A$6.78M
For an in-depth examination of LIO stock, go to TipRanks’ Overview page.