Vulcan Energy advances Lionheart project with reinjection test

Vulcan Energy has reported successful results from a reinjection test at the LSC-3a well, supporting key technical assumptions for its Lionheart project. The test confirmed a matrix injection capacity of approximately 64 standard liters per second under planned operating conditions, which helps reduce subsurface uncertainty and informs future drilling plans for LSC-4 and LSC-5.

In addition to technical testing, the company is scaling up the commercial production of its proprietary adsorbent, VULSORB, in Germany to prepare for future extraction processes. Vulcan Energy maintains its target for the Lionheart field start in the second half of 2028.

Regarding market activity, recent filings show JPMorgan Chase & Co. holds 5.38% of voting rights and Citigroup has increased its reported stake to 11.3823%. These disclosures include securities lending and standard market transactions, which do not necessarily indicate direct buying or selling decisions. The company's next quarterly report is scheduled for October 28.