Seismic survey in South Block A to begin in Q4

By Demas Simbolon

Australia-listed Lion Energy Limited said a seismic survey at South Block A (SBA) on the Northern Sumatera will be carried out in fourth quarter this year to delineate high ranked prospects of the block.

Exploration drilling program is scheduled for 2013, the company said.

Lion through its subsidiary KRX Energy Pte Ltd holds a 35 percent non-operating interest in the SBA block. RENCO Elang Energy Pte Ltd, the operator of the block, holds majority interest of 51 percent. The remaining 14 percent is owned by PT Prosys Oil & Gas International (POGI).

Lion said an extensive prospect and lead inventory exists within the 2,105 square kilometers. The SBA area, with un-risked potential ranges (on a 100% basis) of 87 - 475 million barrels of oil (mmbbl) for the oil case, and 370 - 1,994 billion cubic feet (bcf) for the gas case.

Editing by Roffie Kurniawan