Australia?s Kalrez changes name to Lion Energy Limited

Australian junior oil producer Kalrez Energy Limited announced Friday its name had formally changed to Lion Energy Limited.

Kalrez said that the name change was meant to focus its activities in the South Australian Cooper Basin. ?The Directors believe the company's entry in to the Cooper Basin will bring about exciting and positive results for the company,? said Kalrez.

Kalrez first established an Indonesian presence by the purchase of Santos? Seram Island assets in the first half of 1999. The portfolio included a 2.5 percent interest in the Seram PSC, operated by Kufpec (Indonesia) Limited (Kufpec), a wholly owned subsidiary of the Kuwait Petroleum Corporation, and a 100 percent interest in the small producing Bula oil field (Bula PSC). Both PSCs are located in Maluku province.

In September 2003, Kalrez entered into an agreement to acquire a 12.5 percent working interest in five exploration permits located onshore in the Cooper Basin, South Australia. (robert)