LIO - Lion Energy

[greggles]

Couldn't find a thread on Lion Energy, so here goes.

"Lion Energy is an Indonesian focused oil and gas exploration & production company. It has secured two new long tenure conventional gross split tax and royalty PSC’s located on Seram Island, East Indonesia. Lion’s unique value proposition is providing investors exposure to the Seram (Non Bula) PSC containing the transformational 2TCF Lofin Gas discovery, and the producing Oseil oil field."

Lion Energy: Securing the Future with Green Hydrogen

Through hydrogen investment, Lion Energy is a hydrogen ASX listed company that intends to produce and distribute green hydrogen for heavy mobility in Australia.

lionenergy.com.au

Recent Corporate Activity

• The company completed its marine seismic operations in the Bula Bay and Kobi Area of Seram Island in the East Seram PSC during the fourth quarter of 2020. Interpretation of data planned to be finalised in Q2 2021.
• Farm out efforts are ongoing for a further 10% divestment of East Seram by the Company.
• Seram (Non-Bula) Block PSC production for the quarter was 3,502 bbls net to Lion.
• Cash at end of Q4 2020 was US$0.633m (excluding joint-venture cash and latest lifting), a decrease of US$0.14m from the end of Q3 2020.

Tightly held and thinly traded company that is short on cash and trying to farm out its East Seram PSC tenement. Not a lot to like here to be honest. I noticed the share price had been a little volatile recently and couldn't find a thread on it, so thought I'd get one started.

 

[greggles]

Some good news for Lion Energy today. A new report on the Seram (Non-Bula) PSC undertaken by US Oil and Gas Consultants, Miller and Lents (M&L), on behalf of the Joint Venture, "notes a significant increase in oil reserves for the Oseil Oil Field with Proven and Probable (2P) Reserves reported as 4.37MMbbl (0.109 MMbbl Lion share), effectively a 203% increase on Lion's previously reported 2P reserves."

Following the announcement, the LIO share price surged 132.1% to 6.5c.

The news may also make it easier for LIO to raise capital and advance the Seram (Non-Bula) PSC.

Interestingly there was a Pause in Trading requested by the company a couple of hours after this morning's announcement "pending a further announcement". I suspect that ASX may have some questions about today's announcement and the company's response is what is pending.

 

[Swervin Mervin]

Jumped in today on LIO. Unbelievable chart with a triple top. See if it can bust through. Entry at 8c so buying at the top!

 

[Sean K]

Jumping on the hydrogen bandwagon...

 

[greggles]

Lion Energy have signed an MOU with Wagner Corporation Pty Ltd "to explore opportunities in the development of green hydrogen facilities and related infrastructure at Wagner Corporation's Wellcamp Business Park and Pinkenba Wharf locations."

Green hydrogen is such a hot sector at the moment that any mention of it results in buyers piling in to whatever stock is getting involved. The announcement goes on to say:

The Company cautions that there can be no certainty that a suitable hydrogen opportunity will be identified. Further, there can be no certainty that any conditions precedent to progressing such an opportunity (including, without limitation, compliance with ASX Listing Rules 11.1.2 and/or 11.1.3 to the extent applicable) will be satisfied.

It also makes it clear that the MOU is non-binding and does not oblige either party to proceed with any potential opportunity.

Even taking all that into consideration, the LIO share price is up 22.64% to 6.5c today. I think we're definitely heading into bubble territory with green hydrogen... or maybe it is the greatest thing since sliced bread?

 

[Sean K]

Even taking all that into consideration, the LIO share price is up 22.64% to 6.5c today. I think we're definitely heading into bubble territory with green hydrogen... or maybe it is the greatest thing since sliced bread?

I think the bubble's just started with this scam. Governments are trying to prove green credentials and have invested a lot of political capital in ramping this technology. I don't think it's going to run jet engine or my BBQ though.

 

[Dona Ferentes]

LIO roars

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LIO chasing elephants

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LIO asleep on the job

"Items 4.6 (Cash and cash equivalents at end of period), 5.1 (Bank Balances) and 5.5 (Cash and cash equivalents at end of quarter) have been amended to US$2.041 million (previously reported as US$2.613 million).

 

[qldfrog]

LIO roars

View attachment 171521
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LIO chasing elephants
View attachment 171522
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LIO asleep on the job

"Items 4.6 (Cash and cash equivalents at end of period), 5.1 (Bank Balances) and 5.5 (Cash and cash equivalents at end of quarter) have been amended to US$2.041 million (previously reported as US$2.613 million).

So 4 quarters equivalent, expected capital raising within 6 months with prep work already started
?

 

[Dona Ferentes]

So 4 quarters equivalent, expected capital raising within 6 months with prep work already started

usually a TH for a $10m market cap outfit with a graph like this

implies more capital, but it is ..

placed into trading halt pursuant to ASX Listing Rule 17.1 pending the release of an update in relation to Development Approval at the Company’s Hydrogen Hub at the Port of Brisbane.

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money comes later