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Linc Energy and DTEK Oil Gas Sign UCG Agreement

07 Dec 2012  |  11:28:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: LNC & DTEK Oil & Gas Sign UCG Agreement

Linc Energy (LNC) announced it has entered into an agreement to collaborate with DTEK Oil and Gas for the purpose of evaluating underground coal gasification (UCG) potential in the Ukraine on DTEK’s local coal resources. DTEK Holdings, the parent company of DTEK Oil and Gas, is the largest privately owned, vertically integrated energy company in Ukraine with interests in coal mining, power generation and electricity distribution companies. DTEK has agreed to pay LNC for an initial resource assessment. If a coal resource suitable for UCG commercialisation is identified, the parties intend to cooperate to bring a UCG gas project to commercial fruition in the Ukraine over the next few years.

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