Just quickly, the other reason to believe Linc will sell SAPEX before they sell Umiat or the Gulf, which I'm sure most shareholders would rather see go before the Ark (because the Ark is an easier castle to build in the sky) is that the proceeds from any asset sold from within the US oil and gas sub MUST be used to repay the Convertible Bond.
Linc needs working capital more than it needs to be out of debt. Working capital pays the rent and the fuel card and the office staff and the barista and - ah hem, the Directors! - so, say goodnight to the Ark.
For more details see page 61 of the 2015 annual report.
LNC Price at posting:
99.5¢ Sentiment: Sell Disclosure: Not Held
