Lion Energy has entered a farm-out agreement with OPIC East Seram, which will fund approximately 88% of the drilling costs for the Bula Karang exploration well. The well is scheduled to be drilled in Q2 2026 and is located near the producing Bula Oil Field, with a P50 prospective resource of around 12 million barrels of oil. The design aims to reduce costs and enable early production if successful.
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