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Last $0.10 USD
Change Today -0.01 / -9.09%
Volume 2.0K
LNCYF On Other Exchanges
As of 8:10 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

linc energy ltd (LNCYF) Snapshot

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linc energy ltd (LNCYF) 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 (LNCYF) Top Compensated Officers

Executive Chairman
Total Annual Compensation: A$138.8K
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 (LNCYF) Key Developments

Linc Energy Ltd Receives Completion of Laboratory Results of its Arckaringa Basin 2014/15 Drilling Program

Linc Energy Ltd. recently received the laboratory results of its Arckaringa Basin 2014/15 drilling program and is pleased announce the program's successful completion. The drilling program for 2014/15 was designed to assess the potential of the Arckaringa Basin for unconventional hydrocarbon production from the Permian and pre-Permian Formations. The results of the laboratory testing of recovered samples mark the successful completion of the 2014 and 2015 drilling program. The program achieved its goal of adding significant new information to the existing data collected by the Company on the basin. The program consisted of two wells, Pata 1 and Eba 1. Total expenditure for this program is currently being reconciled and finalised. Once completed, total expenditure will be reported in the 2015 Annual Report. The Pata 1 well targeted the Boorthanna Trough where the Stuart Range was interpreted to be of sufficient depth to be within the oil generation window, based on current seismic data. A thick section of organic rich shale was intersected in both the Stuart Range and Boorthanna Formations exhibiting potential for hydrocarbon generation if it can be found at greater depths (higher maturity) in the basin. Linc Energy will continue to review the current seismic data to define areas where the Stuart Range and Boorthanna Formation is at greater depth and has been exposed to higher heat flow. Additional seismic data will be required as previous programs have traditionally focused on delineating stratigraphic highs and conventional targets within the basin rather than the troughs. The Eba 1 well targeted a thick package of pre-Permian sediments interpreted to be up to 2km thick and believed to be the source of the Maglia 1 oil show (previous drilling program). In this well, the intersected pre-Permian sediments contained lower Total Organic Carbon content than was expected however testing results indicated that they were mature enough to have produced hydrocarbons in the past. Drilling results also place the Formations at much greater depth than originally anticipated. The pre-Permian Formations will be remapped within the regional seismic model in an attempt to better understand the organic areas that could constitute potential source rocks for hydrocarbon generation. All Rotary Side Wall Core and cuttings analysis was completed by the accredited Weatherford Laboratories. Due to the large file size of the supporting documentation, copies of the accreditations and analytical methods can be viewed upon request at Linc Energy's registered office. Weatherford is paid a service fee based on its standard professional fee structure, the payment of the fee is not contingent on the outcomes of the analysis. The company completed the Pata 1 well at 1,828 m on December 8, 2014. The well was designed to target potential unconventional reservoirs within the Stuart Range and Boorthanna Formations. Hydrocarbon shows were recorded in both the cuttings and rotary side wall cores between 1,137 m to 1,194 m, with a dull pale brown even fluorescence found in a siliceous siltstone with minor fine grained sandstone. The distribution of the fluorescence increased with depth from approximately 10% at the top of the unit to 90% at the base. Since completion of the Pata 1 well, an extensive analysis and log interpretation program has been completed in order to improve the understanding of the Permian sediments and their hydrocarbon generation potential. Measured Total Organic Carbon (TOC) content from samples taken within the Stuart Range Formation averaged 8.26% over the interval with a maximum of 11.6%. The laboratory measured TOC data was used to calibrate the FLeXTM logging tool (Direct spectroscopic measurement) run by Baker Hughes over a 250m interval between 1,000 m to 1,250 m. The result clearly identifies a 63m thick sweet spot characterised by high TOC corresponding to the Stuart Range Formation.

Linc Energy Ltd Announces Resignation of Lim Ah Doo as Director

Linc Energy Ltd. announced that Mr. Lim Ah Doo has resigned as Director of the company effective immediately due to personal reasons.

Queensland Government Widens Legal Action against Linc Energy

The Queensland Government has widened its legal action against Linc Energy over the alleged contamination of the environment by its underground gas plant on the Darling Downs in the state's south-east. The Government has filed a fifth charge of wilfully and unlawfully causing serious environmental harm against the company. An investigation the large and most protracted in the history of the Queensland Environment Department - has found that the company's Underground Coal Gasification (UCG) plant at Hopeland caused irreversible damage "to more than one environmental receptor which includes the atmosphere, vegetation, water and soil. UCG is a so-called "unconventional" means of extracting gas from coal seams that are too deep to mine. Coal is burned in situ underground and the gas produced is siphoned off through wells. In March, the ABC revealed that the department's investigation backed claims by former workers at the company's UCG plant that they have suffered ill health as a result of a series of "uncontrolled releases" of gas at the site between 2007 and 2013. Since launching its investigation, the department's investigators have interviewed more than 100 previous and current the company employees and consultants engaged by the company. Water and soil samples collected from 13 farms. More than 230 bores have been drilled on Hopeland properties to test for contaminant gases, with water and soil samples collected from 13 farms. The department has also conducted flyovers using sophisticated aerial thermal imagery to test for "hot spots" signalling an underground fire.


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