Lion signed with Taiwan's CPC to assign the latter a 40% stake in its 6,500-sq km East Seram on/offshore Seram Island. The block contains part of the 2-Tcf Lofin discovery structure + an undrilled offshore extn of the Bula oilfield. Commitments 500km 2D seismic in 3 years.
Lion Energy (-> 60%, op.) had signed a Farmout Agreement with Taiwan's CPC Corp, through wholly owned subsidiary OPIC East Seram Corp, for the latter to acquire a 40% non-operating working interest in the on/offshore East Seram GSPSC.