Past year: ▲ 0%(1.00c – 1.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 July 2026quarterly activities report● Neutral
The June quarter farm-out completed, leaving Lion with 45% and OPIC funding 88% of Bula Karang-1 drilling costs up to US$5.6m. Lion sold its hydrogen equipment for A$400,000 gross and began winding down its remaining hydrogen activities. Site construction was nearly complete, and spud was now targeted for September 2026.
24 July 2026asset acquisition disposition● NeutralMajor
Lion discontinued its hydrogen business after a strategic review, ending its Port of Brisbane lease and selling the equipment for about A$400,000 net. It says partners chose not to proceed with the next phase. Capital now focuses on oil and gas, with Bula Karang-1 spud targeted Q3 2026.
29 June 2026farm in farm out completion▲ GoodMajor
Indonesia's energy ministry approved the transfer of a 15% East Seram interest to OPIC, completing the January 2026 farm-out. Lion's subsidiary now holds 45% and OPIC 55%; OPIC funds 88% of Bula Karang-1 up to US$5.6m. Resolves the pending approval; spud targeted August 2026.
3 June 2026drilling scheduled● Neutral
Bula Karang-1 spud has slipped from early July to August 2026, with rig mobilisation mid-July and initial testing in September. All major service contracts are awarded, the environmental plan is approved and site clearing has started. First production is planned 1H2027 if successful.
12 May 2026material agreement termination▼ BadMajor
Lion terminated the Port of Brisbane hydrogen joint development agreement with DGA and Samsung C&T (signed Aug 2024), citing elevated costs and weak demand. The project is held in a holding pattern; focus shifts to Bula Karang-1, with spud expected early July 2026.
29 Apr 2026quarterly activities report▲ Good
March quarter: rig for Bula Karang-1 (P50 12 mmbbl, 38% chance of success) contracted after quarter-end, drill site permit and land agreement secured, spud still targeted July 2026. Lion keeps 45% and is carried for 88% of well cost. Hydrogen activities curtailed.
22 Apr 2026annual report● Neutral
2025 annual report repeats the year's shift: OPIC farm-out funding the Bula Karang well, the US$1.2m Non-Bula sale, and hydrogen placed on hold. Chairman says the aim is to protect the balance sheet ahead of 2026 catalysts. No new figures in the text supplied.
22 Apr 2026annual report● Neutral
Appendix 4G and corporate governance statement lodged with the 2025 annual report, confirming the governance statement is current at 22 April 2026 and available on Lion's website. Administrative filing with no new financial or operational information.
2 Apr 2026contract award▲ GoodMajor
Lion signed a drilling contract with Silver City Drilling for a hydraulic rig, within budget, for Bula Karang-1 (P50 12 mmbbl, 38% chance of success). Land use permit and land sharing agreement secured. Spud still targeted for July 2026.
31 Mar 2026annual report▼ BadMajor
2025 net loss was A$5,493,696 (A$1,369,961 in 2024), including a A$3,271,602 impairment on the Port of Brisbane hydrogen project pending funding. Strategy now focuses on the Bula Karang well. Non-Bula sale completion is now expected in 2026.
17 Mar 2026agm notice● Neutral
Lion's AGM will be held on or around 26 May 2026, with director nominations closing 8 April 2026. Administrative notice only.
25 Feb 2026drilling progress report● Neutral
Bula Karang-1 preparations: most approvals secured, rig tender under way with award expected March, and spud now targeted for early July 2026. Lion calls securing the rig at the right price a key schedule risk. Chance of success is put at 38%.
27 Jan 2026quarterly activities report● Neutral
December quarter: OPIC farm-out terms finalised (signed after quarter-end), with Bula Karang-1 planned for June/July 2026 (12 mmbbl P50). Port of Brisbane spending stays limited pending ARENA funding.
16 Jan 2026investor presentation● Neutral
Webinar slides repeat the OPIC farm-out: OPIC funds 88% of the Bula Karang well, Lion keeps 45%. Shows about 452m shares, a A$8.1m market cap at 2c and A$2.4m cash. Nothing new on the well.
13 Jan 2026investor presentation● Neutral
Notice of an investor webinar on 16 January 2026 about the OPIC farm-out and the Bula Karang well. No new information.
6 Jan 2026farm in farm out agreement▲ GoodMajor
Lion signed a farm-out with partner OPIC (CPC Corporation subsidiary): OPIC funds 88% of the Bula Karang well, capped at US$5.6m, and earns 15% more of East Seram. Lion's share is about US$0.7m, and it keeps 45%. Needs Indonesian government approval; resolves the funding thread.
11 Dec 2025debt financing● NeutralMajor
Lion extended its A$1.6m unsecured, nil-interest convertible notes by a year to 31 December 2026, by issuing new notes and redeeming the old at face value. The conversion price falls to 1.5 cents from 2.7 cents, so conversion would issue more shares.
30 Oct 2025quarterly activities report● Neutral
September quarter: Lion will limit Port of Brisbane spending until ARENA grant funding is secured, which the board calls a prerequisite for a final investment decision. East Seram farm-in terms are finalised; the US$1.2m Non-Bula sale is reported.
12 Sept 2025half year report● Neutral
Half-year loss to 30 June 2025 was A$1,358,485 (A$1,004,326 a year earlier); cash A$2.17m. Bula Karang (P50 13 mmbbl) spud is targeted for Q2 2026, with a farm-in funding deal expected Q3 2025. The solvency declaration is again 'subject to Note 2'.
4 Sept 2025asset acquisition disposition● NeutralMajor
Lion agreed to sell its 2.5% Seram (Non-Bula) PSC interest to Vista Energy for about US$1.2m, with a US$600k deposit received. Completion is expected in 4Q 2025, subject to Indonesian consent. Proceeds go toward the 11.8 mmbbl Bula Karang well in East Seram.
29 July 2025quarterly activities report● Neutral
June quarter: hydrogen progress was described as moderated while EPC costs are refined; offtake talks await an EPC shortlist. Drilling of the renamed Bula Karang (PP9) prospect is planned for Q2 2026, with farm-in funding still being sought. Net output about 19 bopd.
28 Apr 2025quarterly activities report● Neutral
March quarter: EPC contractor negotiations for the Port of Brisbane plant continue and offtake talks are on hold until a contractor is shortlisted. East Seram work shifts to the shallow PP9 oil prospect for early cash flow, with a drilling announcement expected by Q3. Net output about 20 bopd.
17 Apr 2025annual report● Neutral
2024 annual report: revenue US$0.58m (US$0.67m in 2023) on falling oil output. Repeats the DGA/Samsung deal and East Seram extension, with the Kobi well targeted for 2026. The chairman notes weaker hydrogen market sentiment in early 2025.
17 Apr 2025admin correction● Neutral
Appendix 4G and corporate governance statement for the year to 31 December 2024, current at 17 April 2025. Compliance paperwork with no operational or financial news.
31 Mar 2025annual report● Neutral
2024 statutory accounts: net loss US$879,087 (US$1,406,691 in 2023). Cash was US$1.95m including joint-venture cash. Gross Seram output fell 21%; the 0.25% Seram divestment is expected in 2025, and construction of the first hydrogen facility is targeted for 2025.
17 Mar 2025agm notice● Neutral
Lion says its AGM will be held on or around 27 May 2025, with director nominations closing 4 April 2025. Administrative notice only.
29 Jan 2025quarterly activities report● Neutral
December quarter: Port of Brisbane development continues with partners, and the first hydrogen offtake contract is said to be close to finalisation. Seismic interpretation gives a new Kobi-1 location, with drilling aimed for 2026; farm-in talks continue. December lifting gave Lion US$225,675; net output about 21 bopd.
29 Oct 2024quarterly activities report● Neutral
September quarter: JDA signed and A$3.2m received for Port of Brisbane. East Seram has new seismic imaging of Kobi and Waru, a 2025 work program approved and a well planned for early 2026; farm-in talks continue. Net output about 22 bopd.
30 Sept 2024joint venture update▲ GoodMajor
Lion received about A$3.2m from DGA and Samsung C&T on 30 September 2024, their share of historical costs under the August JDA (A$3.7m total). Lion says the project is now funded; A$6.3m of partner debt follows if construction is agreed.
19 Sept 2024listing compliance notice▼ Bad
Lion answered a second ASX query over Listing Rule 15.7. It admits a slide referring to the DGA/Samsung C&T 'JV' was shown at a 26 August conference, about 23 minutes before the announcement, calling this premature. It says shares were halted throughout and it complies with the Listing Rules.
