Lion Energy achieves record crude oil production from Indonesia

Lion Energy achieves record crude oil production from Indonesia

Lion Energy is witnessing record volume of crude oil production at the Seram
production facility located onshore on the island of Seram, in Eastern
Indonesia.

The company has lifted a total of 500,235 barrels of crude oil as on 25
December 2016, since the commencement of oil production from the Oseil
oilfield.

The production from the Oseil and surrounding oilfields is expected to
exceed 1.39 million barrels for the year.

This would represent an increase of about 14% from 2015 production of 1.22
million barrels.

The realised oil price for the lifting was US$41.50 per barrel with Lion's
share of revenue expected to be about US$490,000 after deduction of
government entitlement.

This lifting brings total liftings for the year to 1,404,582 barrels,
representing a 20% increase from 2015.

Lion's share of liftings for the year, after government entitlement, is
29,847 barrels.

The company is currently awaiting the spud of the Amanah Timur-1 well on or
about 1 January 2017.

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Link to Original Article:
http://energy.einnews.com/article/359762674/7WjDNlAIIKiZBwb2?lcf=MP1UERZM82O
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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com