By Lambok Dominikus
ASX-listed Lion Energy Limited said it is considering drilling an exploration well in the East Seram block, Maluku Province, Indonesia, in 2024.
“Recently we’ve completed an onshore seismic program in the East Seram block and we're in the process of interpretation. We have no more commitments in relation to the production sharing contract (PSC), and we're earmarked to potentially drill a well in 2024 and will either drill or relinquish or we will seek to get an extension. So that's quite exciting in terms of the opportunity set,” said Lion’s Executive Chairman, Tom Soulsby at an “Investor Briefing Webinar” on Thursday (20/04).
Read also: Lion completes onshore seismic survey in East Seram PSC
“The seismic program was completed on schedule, it was within 10% of its budget and largely funded by our Taiwanese partner. So that's a great effort and we're very much looking forward to the opportunities that throw up as we move towards May-June of this year,” he added.
Lion, through its fully-owned subsidiary Balam Energy, owns a 60 percent interest in the East Seram PSC as the operator, while the remaining 40 percent interest is held by OPIC East Seram Corporation (OESC), a subsidiary of Taiwan’s CPC Corporation.
Editing by Reiner Simanjuntak
