TSX.V - LEO
VANCOUVER,
Dec. 16 /PRNewswire/ - Lion Energy
Corp. (the "Company" or "Lion Energy") (TSX.V
- LEO) has been informed that the application for a judicial review
of the administrative process that resulted in the issuance of
exploration permits for, amongst others, Block 10BB, has been ruled
to be without merit and was dismissed today by the High Court in
Kitale, Kenya. The application was
made by Interstate Petroleum Ltd. against the Permanent Secretary,
Ministry for Energy in Kenya and
included Africa Oil Corp., operator of the Blocks, as an interested
party. See also the Company's news release dated November 17, 2010.
About the Company: Lion Energy Corp. is a
well-financed, Canadian exploration company with a vision to
develop a significant presence in the developing oil and gas
industry. The Company holds oil and gas interests in four petroleum
blocks located in the Republic of Kenya and in Puntland, Somalia. The Company further holds an interest
in both Encanto Potash Corp., a junior potash exploration company
and Sulphur Solutions Inc., an emerging fertilizer company
developing state-of-the-art patented technology for the production
of micronized sulphur fertilizer.
On behalf of the Board,
LION ENERGY CORP.
John R. Nelson
President and Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE
This release includes certain statements that
may be deemed "forward-looking statements". All statements in
this release, other than statements of historical facts, that
address exploration drilling, exploration activities and events or
developments that the Company expects to occur, are forward-looking
statements. Forward-looking statements in this news release
include statements regarding the Company's intentions or plans,
whether of a corporate or exploratory nature. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, exploration and exploration successes, and continued
availability of capital and financing and general economic,
political, market or business conditions. These statements are
based on a number of assumptions, including, among others,
assumptions regarding general business and economic conditions, the
timing and receipt of regulatory and governmental approvals for the
transactions described herein, the ability of the Company and other
parties to satisfy stock exchange and other regulatory requirements
in a timely manner, the availability of financing for the Company's
proposed transactions and programs on reasonable terms, and the
ability of third-party service providers to deliver services in a
timely manner. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
on the forward-looking statements. The Company does not
assume any obligation to update or revise its forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law or regulatory
policies.
SOURCE Lion Energy Corp.
Copyright . 16 PR Newswire
