I think everyone onboard with Linc Energy would like to see a commercial operation in the Arckaringa sooner rather than later but at the same time don't want to do another "Genting" and give away big chunks super cheap. The trouble is that today there aren't any producing wells and no well has ever hit pay zone to do a flow test, so getting top dollar for a slice of potential is unlikely. Linc are typically raising debt to fund development and cash is tight. Raising some more debt to do more drilling in Arckaringa sweet spots borrowed against the increased oil production in USA might be an option to prove the basin can be commercially exploited. Otherwise if a partner is willing to give Linc an attractive deal to move forward on this next phase of exploration.... The thing is that today it is only prospective, high potential and equal uncertainty.
LNC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
