Check my detailed analysis of Lion's Indonesia assets from a couple of days ago.
They have a reasonable amount of positive cash flow - by my numbers, enough to support the next phase of Oseil.
The word on the street is that Lion will spin off their Cooper operations into a seperate company, which will do it's own capital raising, thus having two companies that I call Lion Indonesia and Lion Cooper.
If they have the same deal as Impress/Springfield, they could raise circa $3.5M for Lion Cooper to fund their Cooper drilling program.
Ian Whitchurch
LIO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
