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Linc's 4,000 BOPD for June Quarter 2012
Gulf Coast production continues to increase on the back of Linc Energy's increased drilling and recompletion activity. Current gross oil production pending for June year end is 4000 BOPD after resumption of production at our Atkinson Island field.
Significant near term production additions should come from the J. Wilburn A-23, J.B. Watkins #269, J.B. Watkins #271, and the Higgins #8. Aggressive drilling and recompletion activity will facilitate continued increases in oil production volumes, which is allowing the company to reach its stated production target of 6,000-7,000 BOPD by years end (December 2012). The above points to robust cash flows for Linc to maximise on its prime mover advantage in the exciting underground coal gasification - gas to liquids space. ASX: LNC will enable Australia to become liquid fuel independent and save Australian motorists literally billions of dollars. "Linc Energy has constructed and commissioned the world's only UCG to GTL demonstration facility located in Queensland, Australia. This facility produces the world's only UCG to GTL synthetic diesel fuel. Linc Energy also owns the world's only commercial UCG operation, Yerostigaz, located in Uzbekistan. Yerostigaz has produced commercial UCG synthesis for power generation for 50 years." read more Read about underground coal gasification - gas to liquids
Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice. |
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