Linc - a joke, page-113

Arkaringa is potentially great.

Linc just need half a billion cash to do exploration and oil price above $100 a barrell and they will be in the best position to have a red hot go at exploration to find a commercial option in their arkaringa tenements.

I don't know where that money will come from, maybe a farm in partner.... but with current oil price nobody is going to be throwing their hat into that ring. Nobody took it up when Barclays tried to help before. Will the extra 3 drill results excite people enough to get involved now?

IMO Linc need to survive for say 12 to 18 months for an oil price turnaround to have a hope of being in business to do something with Arckaringa down the track. For Linc that is the hard part because they have massive debt and not much income to service it - an unfavourable outcome in the QLD court could trigger the automatic conversion/payout of corporate bonds. I doubt Linc would survive that and if they did it would be by transfer of assets direct to bond holders or emergency fire sale on open market at the bottom of the cycle - See recent coal sales for how lucrative that tactic is.