I like the idea of the CO2-EOR, but with Linc's oil experience, their problems getting gassifer #6 approved, and the cost of the development, then I feel it is probably better if once they get their UCG operation proved up, sell the oil development with a royalty agreement and a firm contract to supply CO2 to the operation.
Nothing in the oil development field has inspired confidence with Linc's operations. Back when CO2-EOR was first mooted in Wyoming, I had asked PB at the Sydney diesel dash, about chrome casing, I got blank looks from all, including the Wyoming man that was present. I know a lot of water has flowed under the bridge since then, but they really are not an oil company, hopefully our new man turn things around. Better to get a little of something that works, rather than footing the whole bill for something that doesn't.
To sum up, their CO2-EOR I feel is on hold until UCG is approved and proved up, and they get some cash to play with.
LNC Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
