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Lion Energy Secures Rig for July Bula Karang Drilling, Curtails Hydrogen Project
12:02pm on Wednesday 29th of April, 2026 AEST
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Energy
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Lion Energy Secures Rig for July Bula Karang Drilling, Curtails Hydrogen Project
12:02pm on Wednesday 29th of April, 2026 AEST
Key Points
Drilling rig contract secured for July 2026 Bula Karang-1 well
Lion retains 45% interest, carried for 88% of drilling costs
Hydrogen project activities significantly curtailed due to market and funding challenges
Cash runway stands at 1.88 quarters, supported by pending asset sale
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