Lion Energy may sell interest in E. Indonesia oil block

Australian small oil firm Lion Energy limited said on Friday that two unrelated parties are now conducting due diligence in relation to the possible purchase of the company?s Bula assets, including Bula oilfield in Bula Block PSC in Maluku province and related company which owned the drilling rig.

?The parties have indicated that if they are satisfied with the due diligence process they may make an offer to purchase the assets,? said the company in a statement.

Lion has 100 percent working interest in Bula, which currently produces around 500 BOPD. (alex)