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linc energy ltd (LNC) Details

Linc Energy Ltd operates as a diversified energy company worldwide. It is engaged in the exploration, development, and production of traditional oil and gas assets in North America; acquisition, exploration, and development of conventional coal resources; and development and commercialization of coal-to-liquids processes through the combined utilization of underground coal gasification and gas-to-liquids technologies in Australia, North America, Europe, South Africa, and Uzbekistan. The company is also involved in the exploration of petroleum exploration tenements with a total area of approximately 24,600,000 acres in the Arckaringa, Cooper, Eromanga, Walloway, and Stansbury basins in South Australia. It owns interest in approximately 27 exploration permits for coal representing approximately 12,264 square kilometers of exploration and mining tenure in Queensland’s coal basins; 2 mining lease applications; a mineral development lease; a mineral development lease application; and a petroleum lease application. The company was formerly known as Linc Energy N.L. and changed its name to Linc Energy Ltd in November 2000. Linc Energy Ltd was founded in 1996 and is headquartered in Brisbane, Australia.

400 Employees
Last Reported Date: 01/11/14
Founded in 1996

linc energy ltd (LNC) Top Compensated Officers

Chief Executive Officer, Managing Director an...
Total Annual Compensation: A$138.8K
Chief Financial Officer
Total Annual Compensation: A$124.0K
Chief Operating Officer
Total Annual Compensation: A$345.4K
President of Clean Energy
Total Annual Compensation: A$393.9K
President of Linc Energy Operations Africa
Total Annual Compensation: A$375.0K
Compensation as of Fiscal Year 2013.

linc energy ltd (LNC) Key Developments

Linc Energy Signs Memorandum of Understanding with National Development Corporation of Tanzania and Olympic Exploration Limited to Commence Commercial UCG Operations in Tanzania by 2017

Linc Energy announced it has entered into a memorandum of understanding (MOU) with the National Development Corporation (NDC) of Tanzania and Olympic Exploration Limited for the development of a 400MW UCG to power operation in Tanzania. The project, as envisaged by the parties, will provide a much needed and timely delivery of power into the Tanzanian electricity grid to support the growing demands on the Tanzanian Electricity Supply Company Limited (TANESCO) to meet the requirements of the economy. The MOU specifies a programme of coal exploration and power plant development, which subject to project permitting and commercial term development, would see the commercialization of a 400MW power plant in the South West of Tanzania in late 2017. Under the MOU, the NDC has agreed to work with Linc Energy and Olympic Exploration to obtain all necessary permits and approvals for the project, while also assisting with the securing of land access, utilities and the development of a long-term Power Purchase Agreement (PPA). Olympic Exploration Limited has access to vast coal resources in Tanzania and will be working with Linc Energy on all of the necessary exploration, feasibility studies, finance raising, project engineering, delivery and operation on behalf of a future joint venture between the parties. The details of the joint venture arrangement will be negotiated over the coming months in accordance with the project delivery timeline outlined in the MOU. The investment and operational experience gained from this first UCG project in Tanzania will cement the country as a regional leader in the adoption of clean coal technologies and power generation.

Linc Energy to Commence Underground Coal Gasification Operation in Poland

Linc Energy Ltd. announced that it has gained initial approval from the Polish Ministry of the Environment to commence an Underground Coal Gasification (UCG) project in Poland. The project will take place upon the company's nominated UCG site within its coal resource license area near Krakow in Poland. The site is ideally located and is well researched, with Linc Energy having already completed coal resource drilling, a seismic survey and a detailed evaluation of the coals geological conditions indicating that this coal is very suitable for UCG operations. During the first stage of the Polish UCG project Linc Energy, working closely with Polish regulators, will undertake gas production trials and verification of its proprietary UCG process. The aim of this stage will be to confirm that UCG operations in Poland are operated as a safe and environmentally acceptable method of industrial scale gas extraction that can be adopted as a commercial energy solution in the near future.

Linc Energy Ltd to Commence Drilling in the Arckaringa Basin in South Australia

Linc Energy Ltd. announced plans to drill three wells in the Arckaringa Basin in South Australia as part of the next phase of exploration and development of this significant asset. Given the size of the potential resource the Board of Linc Energy has determined that the best option for shareholder value is for the Company to fund the targeted exploration program to better define this basin before the Company considers partnering for phase two or three of development. This program will be funded within the Company's budget. As part of this strategy, Linc Energy has engaged with Baker Hughes as shale experts and advisors on this program. Baker Hughes has completed a comprehensive study and produced a detailed model on the basin on the following: Geo mechanical modelling; wellbore stability analysis; hydraulic fracture design; prediction of multiphase flow performance; simultaneous inversion analysis of seismic data; optimising well planning and design, and preliminary development plan to transition the resources to reserves for development. Conclusions of the study have been used to assist Linc Energy with the design of the three well exploration program to test the deeper more prospective parts of the basin. This drilling program is likely to be focused on the Boorthanna Trough which formed the basis for the majority of the prospective resources separately identified by Gustavson Associates and DeGolyer and MacNaughton as previously announced. To date no previous drilling has intersected the formations at depth and the results of these wells will be critical to understanding the basin in detail. Samples and core recovered during drilling activity will be sent for analysis of rock layers within the targeted formations with the most prospective source rock. Analysis will include: Thermal Maturity ­ to confirm thermal gradient projections in each of the three holes; Source Rock ­ to confirm source rock quality of Stuart Range, Boorthanna and pre-Permian formations; Intersection of at least one of the conventional oil and gas targets identified by Gustavson as a prospective resource; Logging of all core holes; and Open hole well testing if moveable hydrocarbons are detected. Assessment of the data collected in this first phase of drilling will determine the next development steps.


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