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Last $0.63 SGD
Change Today -0.02 / -3.10%
Volume 2.0M
LNC On Other Exchanges
Symbol
Exchange
Frankfurt
OTC US
OTC US
Berlin
Singapore
As of 4:34 AM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

linc energy ltd (LNC) Snapshot

Open
$0.65
Previous Close
$0.65
Day High
$0.67
Day Low
$0.62
52 Week High
03/31/14 - $1.45
52 Week Low
01/21/15 - $0.54
Market Cap
366.2M
Average Volume 10 Days
1.2M
EPS TTM
$-0.40
Shares Outstanding
585.9M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for LINC ENERGY LTD (LNC)

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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 unconventional syngas through the combined utilization of underground coal gasification and gas-to-liquids technologies in Australia, North America, Europe, South Africa, and Asia. The company is also involved in the exploration of petroleum exploration tenements with a total area of approximately 24.6 million 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.

Founded in 1996

linc energy ltd (LNC) Top Compensated Officers

Executive Chairman
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 Linc Energy Operations Africa
Total Annual Compensation: A$375.0K
Compensation as of Fiscal Year 2013.

linc energy ltd (LNC) Key Developments

Linc Energy Ltd Provides an Update on the Drilling Operations in the Arckaringa Basin

Linc Energy Ltd. provide an update on the drilling operations in the Arckaringa Basin. The Eba 1 vertical exploration well (PEL121) is the second of the three well program and is planned to be drilled to a total revised depth of approximately 2,900 metres. Since the last progress update, a number of productive days were lost due to a leaking wash pipe in the top head drive. These setbacks have since been rectified and as of 06:00hrs on March 04, 2015, the main hole rig was rigging up to run in hole and drill ahead in the Officer Basin equivalent of the Cambrian Relief Sandstone at a depth of 2,722m. On the 25th February 2015, a Vertical Seismic Profile (VSP) was recorded to a depth of 2,625m to confirm the Eba 1 surface well-seismic ties. This provided a more reliable forward prognosis correlation as the pre-Permian velocities were poorly controlled in the area due to the lack of historical well intersections in the Arckaringa Basin. The seismic traces recorded data below the current depth identifying high amplitude reflectors from approximately 2,723m onwards. The current revised total depth of approximately 2,900m will allow Linc Energy to investigate the higher energy seismic interval and further the understanding of the pre-Permian basin stratigraphy. Formations of interest underlying the Relief Sandstone in the Officer Basin include the Neoproterozoic Tanana Formation, the Karlaya Limestone and the Dey Dey Mudstone; all of which have recorded oil shows in offset wells to the North West. The presence of these intervals under the Cambrian sequence is unknown at this time as all previous exploration terminated in shallower sediments.

Linc Energy Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014; Reports Impairment Expenses for the Second Quarter Ended December 31, 2014

Linc Energy Ltd. reported unaudited consolidated earnings and operating results for the second quarter and six months ended December 31, 2014. For the quarter, the company reported revenue of AUD 23,068,000 against AUD 41,183,000 a year ago. Loss from operating activities was AUD 143,726,000 against AUD 3,422,000 a year ago. Loss before income tax was AUD 165,361,000 against AUD 70,837,000 a year ago. Loss from continuing operations was AUD 166,789,000 or 28.24 cents per diluted share against AUD 73,813,000 or 13.92 cents per diluted share a year ago. Loss attributable to equity holders of the company was AUD 169,392,000 or 28.67 cents per basic and diluted share against AUD 73,932,000 or 13.94 cents per diluted share a year ago. Net cash outflow from operating activities was AUD 37,544,000 against AUD 1,677,000 a year ago. Payments for property, plant and equipment was AUD 332,000 against AUD 168,000 a year ago. Payments for exploration and evaluation were AUD 4,933,000 against AUD 1,278,000 a year ago. Revenue for the second quarter decreased due to decreased US oil and gas net sales volumes of 1,403 BOEPD and decrease in realised price per barrel of USD 20.07 (decrease of AUD 16.6 million); decreased revenue from Clean Energy consulting (AUD 1.5 million) due to change in the revenue recognition policy of the Exxaro Intellectual Property Revenue received in December 2013. For the six months, the company reported revenue of AUD 52,677,000 against AUD 79,545,000 a year ago. Loss from operating activities was AUD 7,718,000 against AUD 14,285,000 a year ago. Loss before income tax was AUD 58,043,000 against AUD 108,857,000 a year ago. Loss from continuing operations was AUD 59,767,000 or 10.13 cents per diluted share against AUD 110,954,000 or 20.93 cents per diluted share a year ago. Loss attributable to equity holders of the company was AUD 63,270,000 or 10.72 cents per basic and diluted share against AUD 114,867,000 or 21.84 cents per diluted share a year ago. Net cash outflow from operating activities was AUD 34,163,000 against AUD 4,128,000 a year ago. Payments for property, plant and equipment was AUD 510,000 against AUD 231,000 a year ago. Payments for software were AUD 153,000 against AUD 209,000 a year ago. Payments for exploration and evaluation were AUD 6,143,000 against AUD 2,514,000 a year ago. For the second quarter, the company recorded impairment expenses of AUD 117,750,000 against nil a year ago. For the quarter, sales volumes were 267,209 boe against 394,785 boe last year. Oil sales volumes were 256,565 bbls against 361,738 bbls last year. Natural gas sales volumes were 43,892 MMBtu against 198,284 MMBtu last year. Liquid sales volume were 139,765 gal. For the six months, sales volumes were 553,634 boe against 735,485 boe last year. Oil sales volumes were 525,682 bbls against 671,766 bbls last year. Natural gas sales volumes were 120,386 MMBtu against 382,310 MMBtu last year. Liquid sales volume were 331,314 gal.

Linc Energy Ltd Provides an Update on the Drilling Operations in the Arckaringa Basin

Linc Energy Ltd. provided an update on the drilling operations in the Arckaringa Basin. The Eba 1 vertical exploration well (PEL121) is the second of the three well program and is planned to be drilled to a total depth of 2,500 metres. As at 06:00hrs on 10 February 2015, the main hole rig is drilling ahead in the Officer Basin equivalent of the Cambrian Relief Sandstone at a depth of 2,422 metres. The major lithology's intersected since the previous update include interbedded sandstones, siliceous siltstones and minor carbonaceous siltstone. A 9 metre thick organic rich interval was intersected at 2,203 metres. Minor increases in background gas were noted through the section, no fluorescence has been recorded. Due to reinterpretation and new information of the seismic section using wellsite depths indicates the Eba 1, target depth will now be set to 2,900 metres which is approximately 400 metres deeper than the current target depth.

 

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