Past year: ▲ 0%(1.00c – 1.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Dec 2021drilling scheduled▲ GoodMajor
Seram (Non-Bula) partners approved re-entering Lofin-2 for an extended gas test in Q2 2022, at gross cost US$12.3m (Lion ~US$0.3m). It targets the 1,450 Bcf (2C) discovery; this firms up the test earlier flagged as deferred to mid-2022.
13 Dec 2021capital raising announcement● Neutral
Prospectus offers 75,000,000 quoted options at A$0.12, expiring 30 months from issue, closing 17 January 2022. These are the options attached to the November 2021 A$9.6m raise. Offer document only; no new money is raised by it.
6 Dec 2021material agreement● Neutral
Lion signed a non-binding two-year MOU with Foton Mobility to jointly market hydrogen fuel cell buses and refuelling to bus fleet operators. Either party can end it on one month's notice. Another hydrogen value-chain link, with no certainty of a deal.
1 Dec 2021material agreement● Neutral
Lion signed a non-binding two-year MOU with Pulitano Group, which runs over 400 buses in Queensland and Victoria, to identify hydrogen production and dispensing sites. It could lead to a formal offtake agreement later; none is certain.
23 Nov 2021investor presentation● Neutral
Lion issued an updated hydrogen presentation outlining a network of production hubs and refuelling stations for buses, then trucks, with signed partnerships with equipment suppliers, bus makers and operators. Restates the strategy; no new financial commitment or result.
17 Nov 2021capital raising announcement▲ GoodMajor
Lion has firm commitments for A$9.6m at 8c a share, following April's 3.0c raise: A$6.1m placement, A$3.375m convertible notes (12% interest, due Dec 2022) and A$125k from directors. Each share gets a 1:2 option at 12c, subject to shareholder approval. Funds go mainly to hydrogen and working capital.
9 Nov 2021material agreement● Neutral
Lion signed a non-binding two-year MoU with Queensland's BLK Auto, which with Hyzon Motors unveiled Australia's first hydrogen coach, to jointly market hydrogen transport and infrastructure. No obligation to proceed; ASX Listing Rule 11.1 caveats apply.
29 Oct 2021quarterly activities report● Neutral
September quarter: cash US$2.2m, down US$0.1m. July lifting of 299,775 bbl brought US$486,392 net to Lion. East Seram partners approved the 2022 onshore seismic, and the 2022 Seram budget includes a Lofin gas well test, pending Indonesian approval. Hydrogen studies continue.
4 Oct 2021other● Neutral
Lion says its green hydrogen work is focusing on refuelling for buses and trucks, starting in Queensland, with GPA Engineering starting a second-phase review of equipment offers. It aims to pick a first station site by year-end. No funding or commitment stated.
13 Sept 2021half year report● Neutral
Half-year loss to 30 June 2021 was US$1,326,760 (2020: US$627,411). Convertible notes converted into 51,697,144 shares on 6 July; a 299,775 bbl lifting in July should bring ~$432,000. Lofin-2 test is tentatively deferred to mid-2022.
1 Sept 2021investor presentation● Neutral
Lion issued an updated East Seram investor presentation, saying onshore structures exceed 1,100 mmboe (P50, unrisked) and onshore seismic is planned for 2022, largely partner-funded. Repeats known prospects; no new result.
6 Aug 2021auditor change● Neutral
Ernst & Young resigned as auditor and Hall Chadwick Audit (WA) is appointed, with ASIC approval. The board cites reputation, experience and cost efficiencies; shareholders will vote to ratify at the next AGM.
27 July 2021quarterly activities report● Neutral
June quarter: cash rose to US$2.3m (up US$1.71m) after the A$2.8m raise. Seram produced ~36 bopd net, seismic raised East Seram resources 120%, and a ~300,000 bbl lifting expected to bring over US$400,000 net. Further 10% East Seram farm-out continues.
14 July 2021director officer appointment● Neutral
Ken Farrell, a former BHP Iron Ore port and rail executive, joins the Lion H2 Advisory Board alongside Dr Andrew Dicks. It is an advisory role, not a main board change.
12 July 2021other● Neutral
Computershare distribution schedule shows 104,463,811 listed options (A$0.04, two-year expiry) held by 84 holders. A registry report with no new business information.
12 July 2021other● Neutral
Top 20 holder list for the new A$0.04 options: Areen Investments 16.31%, 10 Bolivianos 14.30%, Risco's Hazel Resources 11.12%. The top 20 hold 75.28%. Registry report only.
2 July 2021material agreement● Neutral
Lion signed a non-binding one-year MOU with Censtar, a Chinese gas-station equipment maker, to explore testing and operating hydrogen dispensers in Australia. Part of hydrogen Stage 2; no certainty an opportunity will result.
29 June 2021agm notice● Neutral
The AGM is rescheduled to 5 July 2021 as a virtual Zoom meeting, with proxies due by 3 July. No change to the business of the meeting. Administrative only.
29 June 2021capital raising announcement● Neutral
Prospectus offers 104,463,811 quoted options at A$0.04 exercise price, two-year expiry, closing 12 July 2021. Follows the April raise at 3.0c, whose options needed shareholder approval. Offer documents only; no new money is raised by the prospectus text shown.
29 June 2021agm notice● Neutral
The 29 June AGM was postponed because of a Perth COVID lockdown. A new date will be advised. Administrative only.
16 June 2021resource reserve update▲ GoodMajor
Interpretation of the 664km East Seram seismic lifts Plio-Pleistocene prospective resource (P50) from ~95 to 209 mmboe, up 120%, with 13 offshore prospects and leads (previously 6). PP6 has P50 54 mmboe. Resources are unrisked; PSC area shrinks to 4,557 km2 after 17 July.
9 June 2021material agreement● Neutral
Lion signed a consulting agreement with GPA Engineering for a one-month concept study of a generic 2,000kg-per-day hydrogen production and refuelling station in Australia. Part of hydrogen Stage 2; Lion says no suitable opportunity is certain.
3 June 2021material agreement● Neutral
Lion signed a non-binding MOU with Wagner Corporation to explore green hydrogen facilities at Wellcamp Business Park and Pinkenba Wharf in Queensland. The two-year term can be ended on one month's notice, and Lion says no suitable opportunity is certain.
2 June 2021material agreement● Neutral
Lion signed a service agreement with Queensland University of Technology to use its myGlobe mapping tool for siting green hydrogen infrastructure in Queensland. It forms part of Stage 2 of the hydrogen strategy; no cost is stated and no opportunity is yet identified.
28 May 2021annual report● Neutral
The 2020 annual report repeats earlier figures: 664km seismic completed on schedule and budget, CPC funding 80% of seismic up to US$8.5m, year-end cash US$661,624 and Seram gross output of 0.630m barrels. It adds a new green hydrogen section.
28 May 2021annual report● Neutral
Appendix 4G and corporate governance statement lodged with the 2020 annual report, dated 28 May 2021. Compliance paperwork with no new business information in the text shown.
14 May 2021agm notice● Neutral
Lion's AGM will be held on 29 June 2021, with director nominations closing 18 May 2021. Administrative notice only.
11 May 2021director officer appointment● Neutral
Dr Andrew Dicks, a hydrogen expert formerly with British Gas, is appointed to the new Lion H2 Advisory Board. It is an advisory role under the hydrogen strategy, not a change to the main board.
7 May 2021price query● Neutral
Replying to an ASX query on a ~15.7% price rise to A$0.082 on 4 May, Lion said the hydrogen strategy is early-stage, not price-sensitive, and it believes the move reflects general hydrogen interest. The Board approved the roadmap on 4 May and Lion confirmed Listing Rule 3.1 compliance.
7 May 2021other● Neutral
Lion clarified its hydrogen plan: Stage 2 costs about A$500,000 over six months from existing funds, and there is no certainty an opportunity will be found. Later stages need extra funding and ASX consultation. Of the A$2.8m raise, A$2.0m is for East Seram onshore seismic.
