Projects
Prospective Resources
Lion Energy has an exciting portfolio of exploration opportunities in Indonesia.
- Lion’s East Seram PSC, signed on 17 July 2018, contains an extension of the Lofin Field and world-class, highly material leads and prospects across two plays: the Manusela carbonates and the shallower Plio-Pleistocene;
- Lion holds a 45% working interest in the East Seram PSC, reduced from 60% as part of the Bula Karang funding agreement.
Lion also continues to pursue production opportunities in the SE Asian region.
A summary of Prospective Resources (as at 1st January 2026) for the East Seram PSC is presented in the following table:
| Prospect / Lead | Play | 100% (Gross) | Lion WI Share | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gas/Associated Gas Recoverable (Bcf) | Oil/Condensate Recoverable (MMbbl) | Gas/Associated Gas Recoverable (Bcf) | Oil/Condensate Recoverable (MMbbl) | ||||||||||
| Prospective Resources1 | Low P90 |
Best P50 |
High P10 |
Low P90 |
Best P50 |
High P10 |
Low P90 |
Best P50 |
High P10 |
Low P90 |
Best P50 |
High P10 |
|
| East Seram PSC (Lion 45%) | |||||||||||||
| Kobi | Manusela | 297.6 | 1066.0 | 3060.0 | 48.5 | 179.3 | 537.2 | 133.9 | 479.7 | 1377.0 | 21.8 | 80.7 | 241.7 |
| Waru | Manusela | 97.1 | 304.7 | 849.0 | 73.0 | 232.9 | 624.8 | 43.7 | 137.1 | 382.1 | 32.8 | 104.8 | 281.2 |
| Tanah Baru | Manusela | 57.8 | 292.2 | 1086.0 | 25.9 | 138.3 | 498.0 | 26.0 | 131.5 | 488.7 | 11.6 | 62.2 | 224.1 |
| Wahai Deep | Manusela | 177.6 | 623.5 | 1800.0 | 52.6 | 194.6 | 596.4 | 79.9 | 280.6 | 810.0 | 23.7 | 87.6 | 268.4 |
| Lofin Extension | Manusela | 69.2 | 154.4 | 291.7 | 0.9 | 2.0 | 3.9 | 31.1 | 69.5 | 131.2 | 0.4 | 0.9 | 1.7 |
| MA 2 | Manusela | 51.5 | 125.7 | 283.0 | 16.9 | 45.9 | 111.5 | 23.2 | 56.6 | 127.4 | 7.6 | 20.7 | 50.2 |
| MA 8 | Manusela | 75.0 | 161.5 | 336.7 | 15.4 | 38.4 | 89.9 | 33.8 | 72.7 | 151.5 | 6.9 | 17.3 | 40.5 |
| MA 4 | Manusela | 28.5 | 92.0 | 284.7 | 0.9 | 6.1 | 29.3 | 12.8 | 41.4 | 128.1 | 0.4 | 2.7 | 13.2 |
| MA 3 | Manusela | 18.1 | 40.3 | 87.5 | 4.6 | 11.7 | 28.5 | 8.1 | 18.1 | 39.4 | 2.1 | 5.3 | 12.8 |
| MA 1 | Manusela | 4.8 | 9.8 | 18.4 | 0.9 | 2.2 | 4.9 | 2.1 | 4.4 | 8.3 | 0.4 | 1.0 | 2.2 |
| PP6 | Plio-Pleistocene | 15.1 | 40.5 | 108.6 | 16.6 | 48.6 | 140.6 | 6.8 | 18.2 | 48.9 | 7.5 | 21.9 | 63.3 |
| PP4 | Plio-Pleistocene | 0.0 | 0.1 | 0.2 | 15.2 | 31.9 | 63.7 | 0.0 | 0.0 | 0.1 | 6.8 | 14.4 | 28.7 |
| PP10 | Plio-Pleistocene | 0.9 | 2.1 | 4.5 | 8.5 | 18.9 | 42.1 | 0.4 | 0.9 | 2.0 | 3.8 | 8.5 | 18.9 |
| PP11 | Plio-Pleistocene | 7.3 | 17.1 | 41.1 | 5.2 | 13.1 | 33.4 | 3.3 | 7.7 | 18.5 | 2.3 | 5.9 | 15.0 |
| Bula Karang (ex-PP9) Carbonate Reef | Plio-Pleistocene | 1.2 | 3.6 | 9.2 | 4.0 | 11.8 | 30.5 | 0.5 | 1.6 | 4.1 | 1.8 | 5.3 | 13.7 |
| PP4 SE | Plio-Pleistocene | 0.0 | 0.0 | 0.0 | 5.9 | 13.4 | 30.0 | 0.0 | 0.0 | 0.0 | 2.7 | 6.0 | 13.5 |
| PP10 S (lead) | Plio-Pleistocene | 2.0 | 3.4 | 6.5 | 5.3 | 10.8 | 21.3 | 0.9 | 1.5 | 2.9 | 2.4 | 4.9 | 9.6 |
| PP8 | Plio-Pleistocene | 2.0 | 3.5 | 7.1 | 5.3 | 10.8 | 22.0 | 0.9 | 1.6 | 3.2 | 2.4 | 4.9 | 9.9 |
| PP3 | Plio-Pleistocene | 0.2 | 0.2 | 0.5 | 4.3 | 8.2 | 15.8 | 0.1 | 0.1 | 0.2 | 1.9 | 3.7 | 7.1 |
| PP12 | Plio-Pleistocene | 3.9 | 9.1 | 19.9 | 2.7 | 6.8 | 16.2 | 1.7 | 4.1 | 9.0 | 1.2 | 3.1 | 7.3 |
| Offshore Bula Extension | Plio-Pleistocene | 0.0 | 0.0 | 0.0 | 2.0 | 3.8 | 7.1 | 0.0 | 0.0 | 0.0 | 0.9 | 1.7 | 3.2 |
| Solan | Plio-Pleistocene | 0.7 | 1.5 | 3.6 | 1.5 | 3.6 | 8.7 | 0.3 | 0.7 | 1.6 | 0.7 | 1.6 | 3.9 |
| Total Prospective Resource2 | 910.4 | 2951.2 | 8298.1 | 316.1 | 1033.1 | 2955.6 | 409.7 | 1328.0 | 3734.1 | 142.2 | 464.9 | 1330.0 | |
Notes:
- Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery (geological chance of success or GCOS) and a chance of development (economic, regulatory, market and facility, corporate commitment or political risks). The chance of commerciality is the product of these two risk components. There is no certainty that any portion of the prospective resources will be discovered and, if discovered, there is no certainty that it will be developed or, if it is developed, there is no certainty as to either the timing of such development or whether it will be commercially viable to produce any portion of the resources.
- Prospective Resources in this Table have been estimated probabilistically at prospect and lead level but combined arithmetically to provide the portfolio number. The aggregate P90 may be a very conservative estimate and the aggregate P10 may be a very optimistic estimate due to the portfolio effects of arithmetic summation.
