Lion Energy Ltd advises that Lofin-2 appraisal well has reached a depth of 5861m MD. Gas chromatography and oil shows in the primary objective were encountered through to total depth. Ongoing operational issues involving stuck drill string have resulted in the decision to test a 437m open hole section of the Manusela limestone.
Since Lion's last update on the Lofin-2 well on 30 April 2015, wireline logging to 5471m MD and deepening of the 6 inch hole to the current total depth of 5861m MD was completed, with gas and oil shows continuing to be encountered in the primary objective. Analysis of pressure data support an interpreted significant gas column in the large Lofin structure.