Lion Energy Ltd. announced that upon completion of the proposed transactions, two existing directors of Lion will resign and Mr. Tom Soulsby, Mr. Chris Newton and another director (to be determined) will join the Lion Board as non-executive directors and Mr. Kim Morrison will join the Lion Board as an executive director. Mr. Thomas Soulsby is currently the Chief Executive Officer of Risco. Mr. Soulsby has 23 years' experience of the oil and gas and resources sector in both investment banking at UBS and ANZ and corporate business development and management roles in the oil and gas industry at Energi Mega Persada and Risco.

Latterly, as a Director at Indonesian-listed Energi Mega Persada (EMP) from 2003 to 2008.