[SMM Flash News] Lion Advances Bula Karang-1 Exploration Campaign in Indonesia

Published: Jul 27, 2026 22:47

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Lion Energy has advanced its Bula Karang-1 exploration campaign in Indonesia after completing a farm-out transaction, securing project funding, finalising drilling contracts, and commencing site construction. The company has confirmed the use of Silver City Drilling's 900HP SCD-20 drilling rig, which has been mobilised from East Java and is expected to drill a deviated well extending around 1,000 m offshore to test a seismically identified carbonate reef target at a depth of approximately 550 m below sea level. A successful outcome could establish a new oil production hub within the East Seram PSC and unlock additional nearby exploration prospects.

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