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How Lion Energy’s OPIC Deal Could Unlock 12 Million Barrels in East Seram
9:33am on Tuesday 6th of January, 2026 AEDT
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Energy
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How Lion Energy’s OPIC Deal Could Unlock 12 Million Barrels in East Seram
9:33am on Tuesday 6th of January, 2026 AEDT
Key Points
Farm-out agreement with OPIC funds 88% of US$5.6 million Bula Karang well cost
Lion’s net drilling cost reduced to US$0.7 million, retaining 45% PSC interest post-drilling
Bula Karang prospect holds a P50 prospective resource of 12 million barrels of oil
Onshore drilling planned for offshore target reduces costs and supports early production
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