Lion Energy Ltd participates in exploration and production
in the upstream oil and gas sector. 

The Company’s primary asset is a strategic interest in a Production Sharing Contract in the Seram (Non Bula) block on the island of Seram in Eastern Indonesia. The block contains the Oseil Oilfield currently producing at in excess of 2,000 BOPD. 

PRO-RATA RIGHTS ISSUE PROSPECTUS, 15 July 2008