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From Bloomberg:


By James Paton
Sept. 25 (Bloomberg) -- Linc Energy Ltd., seeking a shale
exploration partner in central Australia, is in talks with two
groups, including a U.S. oil services company, that are
interested in helping to develop its prospects.
The company expects to start a five-well drilling program
at the shale oil properties in South Australia’s Arckaringa
Basin in February at an initial cost of A$15 million ($14
million), Peter Bond, chief executive officer of Brisbane-based
Linc, said today in a phone interview.
Linc is moving ahead with the drilling plans “on the basis
that one of the groups will commit between now and early next
year to go in with us on that program,” Bond said. “It makes
sense to get on with the drilling.”
The company, which hired Barclays Plc to help find a shale
oil partner, said earlier this year that it had been contacted
by companies from North America to India interested in funding
the development. Chevron Corp., ConocoPhillips, BG Group Plc and
Statoil ASA are among global energy companies that have made
shale investments so far in Australia.