opportunity, page-27

Posty, i suggest you read the article on Bondy's history. The man has a good history of getting things up and moving and making money. Linc appears to have been a $1m company when he got it. Now where is it and in what time frame! how many CR's has it had, how much debt does it have, what is it potential asset value? He has done incredibly well.

Its pretty easy to can the management of the company from 5,000kms away. PB has big dreams and there is nothing wrong with that (if you can make them come true). The fact that we now have the assets to back this up and support those dreams is incredibly lucky for all shareholders, as I believe the future looks pretty good. Yes deals have not been completed, we have had a GFC, we have had the Chinese playing with lots of companies fishing for investments and then backing out of deals. and companies and potential JV partners change their mind and strategies daily. PB has still managed to get us through the GFC and improve our asset position with the US purchases, etc..

Making deals on these scales is not easy, they take years! Every potential partner needs to look at Linc's technology to see if its the right fit for them, does their country/state etc have laws, EPA rules and regulations on UCG if not what might they bring in, most countries probably have not even given a thought to UCG. They have to find appropriate resources in each country, work out deals with land holders, possible native title issues, etc.. Any such agreements are worth hundreds of millions of $$'s and are life/business changing for linc and other parties. If linc puts its technology into China and it fails because the partner is wrong then we could screw our entire GTL and UCG reputation and jeopardize future sales/JVs. These minor details before making a deal take a lot more time than running out and just buying an asset. Both sides are building a partnership that possibly both futures rely on so due diligence is required by all parties, governments, etc And obviously Linc is still refining their technology which is what you would expect from anyone to get better economy or return from their processes. The creation of GTL plant of the size PB wants is going to cost hundreds of millions which either comes from CR or borrowing, so far Bondy has shown he can probably get up a positive cash flow soon from US oil and improve our stock price which would either reduce the dilution of we have to do a CR or improve our asset base if we borrow.

I suggest you read up a bit more on the people making those decisions at linc rather than just labeling them Muppets. Bondy started with a $1m company and has grown, he has brought in new execs and replaced exec's who were capable of working for a $1m company with personnel needed to support the transformation to a $1-?B company and a company that now has to deals with other majors in oil, gas, UCG, GTL.

To dismiss PB and his management team is to dismiss some of our most important assets, if it was not for PB, Linc would still probably be a $1m company like CXY. I mean no disrespect to CXY but I believe the difference between the two is Bondy's vision, energy and ability.

Lastly if you are going to blame the execs for the failures of linc then your really also need to give them credit for the successes, so we lost the Teressa sale, but we still have the asset as well as the Sapex and US assets. I am pretty happy with that.