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LINC buys 92,000 acres of Coal Wyoming USA
Nice to see LNC going straight into the Obama green energy alley....
LNC is the world's first to combine UCG with GTL.... where 1 ton of coal produces 1.5- 2 BOE of super clean diesel etc. Brisbane, May 14, 2009 (ABN Newswire) - Linc Energy Limited (ASX:LNC)(PINK:LNCGY) is pleased to announce that it has signed a purchase agreement to acquire a 100% interest in 92,059 acres of coal tenement lease areas in the Powder River Basin in Wyoming USA from GasTech Inc, a company based in Casper Wyoming. The 92,059 acres being acquired have a coal deposit exploration target range of 7 to 8 billion metric tonnes (non-JORC Code standard) based on existing drilling data. The Powder River Basin is the largest coal producing region in the United States with current production from surface mines representing over 45% of the total US production. The area being acquired by Linc Energy contains multiple subbituminous coal seams ranging from 6 to 15 metres thick and occurring at depths in excess of 150 metres, making them excellent targets for Underground Coal Gasification (UCG) operations.
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