Linc Energy Spuds First Alaska Gas Exploration Well
Further to its previous announcement of 14 July 2010, Linc Energy Ltd (ASX:LNC)
(OTCQX:LNCGY) is pleased to announce that it has now spudded its first gas exploration
well (LEA #1) on the Company’s oil and gas leases located in the Cook Inlet Basin.
The spudding of the LEA #1 well is the first drilling activity in Linc Energy’s Alaskan
exploration program. The well has been designed to target a number of stacked gas
objectives whilst intersecting regional coal measures.
The CEO of Linc Energy, Peter Bond, said, “Spudding LEA #1 in such a short period since
the acquisition of these leases is a significant achievement by Linc Energy’s Alaskan staff
and one which further demonstrates our committed effort to enter the United States energy
market. These Alaskan assets will be a definitive part of the early cash-flow opportunities for
Linc Energy in the months ahead. I look forward to updating the market on the results from
LEA #1 and the expansion of our operations and exploration activities within Alaska in due
Linc Energy’s Cook Inlet Basin Oil and Gas Leases
Linc Energy is an innovative, forward-thinking company developing a significant energy
business based on the production of cleaner energy solutions.
Linc Energy has successfully combined two known technologies, Underground Coal
Gasification (UCG) and Gas to Liquids (GTL) and has demonstrated its vision of being a
leading supplier of a new source of cleaner liquid transport fuels for the future.
UCG technology provides access to coal, deep underground and by in-situ gasification
produces a high quality synthesis gas (syngas) containing carbon monoxide and hydrogen.
Aboveground, in the GTL process, syngas is processed via Fischer-Tropsch technology to
produce high quality, sulphur free synthetic hydrocarbons.
Linc Energy plans to combine its UCG and GTL technologies commercially at sites in
Australia and around the globe as it realises its vision of becoming the world’s leader in
providing cleaner synthetic diesel and jet fuels from stranded coal resources.
UCG produced syngas can also be used as a feedstock to generate gas turbine combined
cycle power, resulting in reduced greenhouse gas emissions.
With significant coal deposits suitable for UCG technology, Linc Energy can provide
alternative sources of liquid fuels and power generation well into the foreseeable future.
Linc Energy represents a new future for liquid fuels production and high efficiency energy
Source: Linc Energy