Lion Energy Limited announced that Mr. Morrison has resigned as CEO and Executive Director of the company. Mr. Smith has resigned as Executive Director & CFO of the company. Mr. Russell Brimage has taken up a new role as a Non-Executive Director.

Mr. Tom Soulsby has been appointed as Executive Chairman. Mr. Soulsby has been the Chief Executive Officer of Risco Energy and has over 25 years of experience in the oil and gas and resources sector spanning investment banking, corporate business development and management/leadership roles. Mr. Soulsby has been instrumental in securing backing for Risco prior to its incorporation in 2010, as well as growing the company and its capabilities in his role of Chief Executive Officer.

Under Mr. Soulsby's leadership, Risco has participated in and funded over USD 500 million of transactions since 2010. He led the significant valuation creation, and subsequent monetisation, of Risco's first South East Asian oil and gas conventional and unconventional portfolio in 2013. Mr. Soulsby brings savvy capital raising skills as well as some 15 of years of deal making and value creation in Lion's core market, Indonesia.

Mr. Zane Lewis and Mr. Damien Servant have been appointed as Non-Executive and Executive Director, respectively. Mr. Lewis is the Company Secretary of Lion Energy and has over 20 of years corporate advisory experience with various ASX and AIM listed companies. Mr. Lewis is a fellow of Chartered Secretaries Australia and is a Non-Executive Director and Company Secretary for a number of ASX Listed companies.

Mr. Servant was the Chief Financial Officer of Risco Energy and has more than 15 years of experience in M&A and capital markets with various financial institutions in the region. The appointments of Mr. Lewis and Mr. Servant as Directors are effective from February 13, 2018.