Brisbane, Sep 5, 2012 (ABN Newswire) - Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) is pleased to announce that its Gulf Coast oil fields have survived Hurricane Isaac relatively unscathed. The storm passed directly over the Company's Leeville field, located in Louisiana, which sustained minimal damage. The facilities will require routine maintenance, however the Company expects the field to return to production in the next few days. Production from the Leeville field is approximately 85 barrels of oil per day (BOPD), so the effect on Linc Energy's overall production volumes will be negligible. None of Linc Energy's other Gulf Coast fields was touched by the storm. Our current Gulf Coast production is approximately 4,200 BOPD and remains on schedule to reach 6,000 to 7,000 BOPD by year's end.
Linc Energy is a globally focused, diversified energy company with a strong portfolio of coal, oil and gas deposits. It is Linc Energy's purpose to unlock the value of its resources to produce energy to fuel the future.
A publicly listed company, Linc Energy is the global leader in Underground Coal Gasification (UCG), which delivers a synthesis gas feedstock to supply commercially viable energy solutions – such as electricity, transport fuels and oil production – through gas turbine combined cycle power generation, Gas to Liquids (GTL) Fischer-Tropsch processing and Enhanced Oil Recovery.
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.
Linc Energy is on a rapid global expansion path to commercialise its portfolio of resources, with established offices across three continents in the United States, the United Kingdom and Australia.
Contact
Linc Energy Limited T: +61-7-3229-0800 F: +61-7-3229-6800 WWW: www.lincenergy.com.au
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Linc Energy Limited
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