Lion Energy announced that the TSX Venture Exchange has granted its final approval for the Farm-In agreement between the Company and Africa Oil Corp., which grants Lion Energy the right to earn an interest in five petroleum blocks located in the Republic of Kenya and in Puntland, Somalia.
An independent assessment of the Company's contingent and prospective resources has been completed by Gaffney, Cline & Associates. The independent assessment was completed January 21, 2010 and was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.
Lion Energy has the right to earn an interest from Africa Oil Corp. in five petroleum blocks located in the Republic of Kenya and in Puntland, Somalia. These blocks contain under-explored plays in basins that have proven and productive analogues, or where the petroleum system is calibrated by existing well and seismic data.
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