Company News Summary
Linc Energy Provides Sapex Arckaringa Basin Shale Update
Original announcement: Sapex Arckaringa Basin Shale Update
Linc Energy announced that it has appointed Barclays Bank to act as a strategic advisor on its petroleum assets within the Arckaringa Basin in SA. Barclays will assist the company to achieve the best outcome for the company's Arckaringa Basin assets. Barclays was selected from a group of potential advisors due to its strong technical expertise and experience working with shale assets. The company holds over 65,000sqkm (16m contiguous acres) within the Arckaringa Basin across seven Petroleum Exploration Licences (PELs) and one Application (PELA). The company is currently finalising an independent petroleum engineering report and will release this to the market as and when it becomes available. The company anticipates finalisation of the report in January 2013.
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