i smell gas, page-8

I think you should give them the benefit of the doubt. There was an article in the AFR about the coal sale, combine this with an upward moving market and the bad publicity(Cougar) that brought LNC down to the $2.50(it should never have been that low, nice buying nicole) and we have a move that isn't all that substantial.


With regard to this anouncement, this is great news. A good flow rate and a nice size reserve will push this share price.


From this link it appears they targeted these 3 sandstones and have come up with success in all 3!

http://www.petroleumnews.com/pntruncate/313776747.shtml

"Linc plans to drill the vertical LEA No. 1 well deep enough to test dry natural gas deposits in the middle and lower Tyonek formations, and to depths equivalent to the Hemlock formation, according to GeoPetro."

From another link they talk about the size from these 3 targets,

http://www.frontiersman.com/articles/2010/09/26/local_news/doc4c9eecc1a8dea311995611.txt

"targeting multi-hundred billion cubic feet of gas."

Even if "multi" is taken as 200Bcf, then that alone is worth 200m, or at least 40c to the share price. It will be interesting to see a reserves statement with the flow rates. All goog IMO