SYDNEY (Yosefardi) – Lion Energy Limited has completed acquisition of 183 km 2D seismic survey for South Block A PSC in North Sumatran basin.
The South Block A (SBA) PSC covers key prospects and leads. The survey is currently being processed.
The interpretation is expected to confirm an attractive shallow oil target, with near term commercialisation potential, for the planned 2014 drill program.
A deeper gas/condensate target is expected to be confirmed for a planned 2015 drilling campaign.
In further developments, a 400 mmscfgd gas pipeline is being constructed through SBA that will transport gas from the Aceh region to Medan.
Lion has a 35% interest in the highly prospective SBA PSC with operator Renco having 51% and PT Prosys Oil and Gas the remaining 14%.