The Oil price could not have been any better for selling tight oil assets ! The same strategy was employed by Linc with Coal assets recently. Buy high and sell low when you desperately need cash and have weak position in negotiation.
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Apparently the proposed deal is with a local Australian company with Asian financial backing.
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The local Australian company better could be Newtron Pty Ltd perhaps? Hillgrove ?
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Not Held
