I don't see that IP on UCG or Ark is worth dilly squat. All the IP on UCG is with the people who did it and they are all gone. Why would anyone pay millions for IP when you can get trained monkeys who did Swan Hills or Carbon QLD trial for peanuts.
As for Ark and the ten trillion barrels of oil, supposedly, it would cost about $150 - $250 a barrel to produce, that's after hundreds of millions in capital investment on infrastructure, which is why shale oil has never been successful anywhere in the world. The Arkaringa does not have any hydrocarbons simply because there is not the correct geology for traps even if there was source rocks. BP, Shell, Santos, Geoscience, Oil Search and others all tested it in the 50s 60s 70s 80s and found nothing, so PB goes and spend millions to verify nothing as well, good work.
Nth America assets at <$30 a barrel = chapter 11
So what's left, someone to tip another few million into a company that has? that's right a coffee machine.
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Not Held
