Here is more relating to Linc from Dr Moors. I wish I could...

Here is more relating to Linc from Dr Moors.

I wish I could share his optimism.

Lockitt


MEMBER SPOTLIGHT: ASK KENT
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Q: What do the current low oil prices mean for the near term and long term potential of Linc Energy?
-- Lou
Linc is moving ahead with its exploratory wells in the Arckaringa Basin in South Australia. Keep in mind that this basin, which is estimated by the U.S. Department of Energy to hold approximately 437 trillion cubic feet of recoverable shale gas and up to 233 billion barrels of shale oil, will yield oil and gas for decades. The price of oil today or next week won't affect the project long-term.
Earlier this month, the company announced that the first well, Pata 1, intersected a continuous section of oil bearing rock in an area known as the Stuart Range. The drilling found signs of oil at depths of 1,119 meters to 1,173 meters, which was 9 meters thicker than previous estimates. These findings reinforce the belief that the Arckaringa Basin could be a game-changer.
Meanwhile, the company spudded (began drilling) its second test well, Eba 1, near the site of an earlier drilling program that also found signs of oil. Drilling is expected to be completed by January 18.
Site preparation and the installation of a precollar rig on a third well, Fox 1, was completed in late November. Drilling will begin there in late January to a depth of 2,345 meters.