20 April 2009 Commencement of Stage 1 of the UCG Project in Vietnam • Linc Energy, Vinacomin and Song Hong Energy of Vietnam, and Marubeni Corporation of Japan finalise agreements for UCG project in Vietnam Linc Energy Limited (ASX: LNC) (OTCQX: LNCGY) is pleased to announce the successful completion of negotiations with its project partners, Marubeni Corporation, the Vietnam National Coal – Mineral Industries Group (Vinacomin) and Song Hong Energy of the Civil Works Contract and Works Contract to undertake Stage 1 of the Underground Coal Gasification (UCG) Tonkin project in the Red River Delta region of Vietnam. The main aim of the Tonkin project is to deliver power to over six million households in Vietnam using Linc Energy’s UCG technology. Stage 1 of the project will involve the development and operation of a trial UCG field in the Red River Delta region of Vietnam. Linc Energy’s Chief Executive Officer, Mr Peter Bond, said “The finalisation of these contracts is a major step for Linc Energy towards its goal of bringing power generation fuelled by competitively priced UCG synthesis gas to countries like Vietnam that have increasing demands for power supply. Our work in Vietnam will further demonstrate the potential for UCG to be the next major energy source for the world. We look forward to bringing this project to commercialisation and continuing our strong working relationships with our Vietnamese and Japanese partners.” The contracts signing ceremony will take place with all parties on Tuesday 21 April 2009 in Brisbane.
LNC Price at posting:
$2.12 Sentiment: Buy Disclosure: Held
