peter, do you want to know why?, page-35

At Mascot last Wednesday, PB told me that the China deal was binding and that the $60M would hit the bank account in 4 to 5 weeks. Hong Kong juristiction a key factor as it offers legal redress not available in PRC.

And Linc will end up with Clean Energy and Oil divisions, with Coal division being sold off (possibly to 4 or 5 different parties) . . . sometime. At that point a dividend to be forthcoming.

ERG oilfields expected to be producing 6,000bpd by end of year (oil, no gas component or boe included in that) which will produce $200M pa free cash and make Linc cashflow positive (if the oil price drops, so will the AUD we expect?). When the ERG deal fell over originally during the dd process, Linc were not committed and were not forced back to the table. The other party came back to negotiate with a much humbler attitude, and provided the requested concessions . . . Bond seems to be a tough negotiator.

For some reason Martin Ferguson wants Linc to progress the Vietnam deal. Go figure.

I wish I wasn't tall, coz I hear that only the short sellers are making money at the moment.