Ann: LNC Oil and Gas Division Results for Third Q, page-15

re: Ann: LNC Oil and Gas Division Results for... Remember, no news, late news or omitted news is generally bad news in the history of Linc.

To be fair peak exit rate is just a one day number and averages over a quarter are far more meaningful to the bottom line of the business.

Last year the headline grabbing number was 6000-7000BOPD gross by December 2012 so they worked to achieve that exit rate headline number because the oil production is important to Linc cashflow and also was important last year in light of the GCL deal failure (no news is bad news).

Oil well output decline is always rapid. It is normal so people should not pretend to be surprised. Combine this fact with a few dry holes and the numbers can look a bit sad, it happens.

Oil production increase will always be non-linear.

So long as the average daily production for the quarter is increasing thats good news, and increased margin of the announced magnitude is great news IMO. Aussie dollar conversion going south vs USD is also excellent for Linc as their profit is in US$ from the oil business.