West Perth-based Lion Energy Ltd aims to raise $10.6 million through a non-renounceable rights issue to acquire an interest in oil and gas tenements held by US-based Ridgelake Energy Ltd in the Gulf of Mexico.

West Perth-based Lion Energy Ltd aims to raise $10.6 million through a non-renounceable rights issue to acquire an interest in oil and gas tenements held by US-based Ridgelake Energy Ltd in the Gulf of Mexico.