We are about 2 weeks away from the 6 month anniversay of the announcement of the independant analyst reports on the Arckaringa data Linc put together.
Back in late January PB announced that the search for a partner would take about six months. Barclays have been strategic advisors to Linc on the quest to find a risk sharing partner with liquid shale oil know-how, experience and cash.
Initial reports were made of 70 interested parties. Last month we learned that discussions with at least 4 overseas parties were ongoing and then the curious media reports tale of early discussions around BHP coal mines near Emerald was also thrown into the mix of possible negtiations surrounding JV activities and mutual synergies that could be part of farm-in deals for Arckaringa.
Will we see an Arckaringa farm-in deal announcement in July?
A few weeks ago in the Corp presentation of June PB re-iterated that the independant Analysts "unrisked" review of Arckaringa identified not only the huge shale oil potential of 100-233 Billion Barrels but in addition another potential 125 billion barrels of conventional oil... Unrisked meaning that further drilling and exploration is required to convert this into a known economicallyt recoverable quantity but even so just a few % being recoverable is a massive deal.
Good luck to all holders. Lets hope we see an early positive announcement on this one. It will be a financials game changer if this gets off the ground.
LNC Price at posting:
$1.07 Sentiment: LT Buy Disclosure: Held
