Bond said in January he expected to reach an agreement about mid-year to sell as much as half of the shale oil project and that drilling may start by the end of the year. Linc is seeking a partner to contribute as much as A$300 million to fund the exploration, Bond said in March. The drilling plans are taking priority over the negotiations, Bond said today. Along with the shale services company, Linc is in discussions with a second group comprising a couple of overseas energy investment companies that are potentially interested in acquiring a stake in the project, he said, declining to comment further.
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--Editors: Keith Gosman, Indranil Ghosh
To contact the reporter on this story: James Paton in Sydney at +61-2-9777-8698 or [email protected]
LNC Price at posting:
$1.55 Sentiment: None Disclosure: Not Held
