Release: Lion Energy: Bula oilfields back on line
Friday, February 18 2005 - 12:59 AM WIB
February 18, 2005 ? Further to the company?s announcement on 28th January 2005, Lion Energy Limited advises that effective 15th February 2005, production at the Bula Block oilfields recommenced after strike action initiated on 25th January shut down production.
Lion Energy Limited?s wholly owned subsidiary Kalrez Petroleum (Seram) Limited, is the 100 percent contractor shareholder and Operator of the Bula Block.
The block contains the Bula oilfields.
Crude oil Inventory at 31st January 2005 was 44,308 barrels. A lifting of approximately 50,000 barrels of crude oil is scheduled for mid March 2005. (end of release)