Lion Energy is finalizing processing and interpretation of a 664 km of high-resolution 2D data survey acquired late last year offshore Seram Island, Indonesia, in the East Seram Production Sharing Contract (PSC).
Lion Energy is finalizing processing and interpretation of a 664 km of high-resolution 2D data survey acquired late last year offshore Seram Island, Indonesia, in the East Seram Production Sharing Contract (PSC).
Once processing is completed next month Lion will have met its commitment obligations in the East Seram (PSC). ‘The data is being processed in Jakarta and overseen by experts engaged by Lion,’ the company stated.
The survey was designed to investigate some large leads on the offshore Kobi area with areal closure up to 30 km2 and also the potential extension of the 20 mmbbl Bula oil field and other leads in Bula Bay area. Interpretation of the data is expected to be finalized in Q2, 2021.
Concurrently, Lion continues to plan for an approximate 200 km onshore survey targeting large onshore gas and oil leads.
Lion has a 60% interest and operatorship of the East Seram PSC. Lion’s cost of the survey is largely covered under the farm-in arrangement with OPIC East Seram Corporation which holds a 40% interest
