Disclaimed property, page-5

Linc Energy assets to be sold > Does anyone know (or would like to make an educated guess) who to?

"We have a buyer but we can't disclose who they are due to conditions attached to the sale," Mr Sparks told The Australian Financial Review.

Linc Energy held seven exploration licences and two licence applications for the Arckaringa Basin in South Australia, covering 14 million acres. The company claimed there was a resource of between 103 billion and 233 billion barrels of oil in the basin.
These will be taken up by the new owner, believed to be another resource company, when the sale settles in the next few weeks.

The UCG test site at Chinchilla in south-west Queensland has been "disclaimed" or gifted to the Queensland government to allow a quick sale of Linc Energy's other assets but Mr Sparks said the proceeds from the sale would not cover all of the $320 million in debts.

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