To start with I think it is great how everybody is pulling together and helping everyone out with knowledge and communications. There have been times when we have not all been so friendly, but face to face meets certainly go a long way to breaking down barriers.
Good to here Poland is still on track, even though a certain Mayor is causing troubles. I am sure the conspiracy theory people could suggest things like Russian payroll and the like, hopefully it is just a bit of personal greed that can be taken care of or a bigger fish takes care of him.
No mention of Gassifier #6. Are we going to drill it?
I think counting oil trucks, is a little early, but where did he say these road trains were going to drop off their oil? I am pretty sure Port Augusta would be to closest they could get to an oil refinery and the SA oil refinery was for lubricating oils and closed down quite a few years ago. So Melbourne or Darwin/Singapore are your targets. I would have thought rail would have been the way to go. But let find the oil before we go too far down that track.
With the price of oil dropping at this rate, their may just be some leases being sold at distressed prices, to a cashed company. I am not sure we can call Linc a cashed up company? The heavy oil/UCG tech sounds nice, but I can remember first reading about the THAI process about 4+years ago, and thought it was the bees knees, and that didn't work out so well. I am not say this won't work and it may be the great eldorardo, but I am sure how he is going to get the money to buy any sizable oil sand acreage and then sit back until he can prove up the new technology? Oil sand acreage will be a lot more expensive than deep un-mineable coal.
GH, unless they find their "flowing barrels" you can for get your "P"s. We are not talk reserves, until it can be proven that oil can be extracted. Now once they flow the well and whether is needs fracing or not, then you can start talking "P"s. But I am not sure how they rate the LTO (Light Tight Oil) as there is no defined reservoir as such. (I need to do some reading)
I know ESSO/BHP would declare reserves on a RFT and no flow test, but that was only after years of drilling the sands down there, and they were all extremely permeable.
Thanks again for all the feed back.
LNC Price at posting:
99.5¢ Sentiment: Hold Disclosure: Held
