Teressa Coal Sale

8 August 2011
TERESA COAL SALE UPDATE
 Linc Energy narrows its sale process down to the top four

PB Track Record for Sales of LNC Assets ( Biggest Trumpet blower in the world )


Linc Energy (ASX:LNC) (OTCQX:LNCGY) wishes to announce that the sale process for its Teresa coal tenement, located in Queensland, Australia, is continuing with the Company having received a strong level of interest from a number of parties and now progressing to the final stage of negotiations with the top four bidding groups prior to binding offers.
At the completion of the current phase of discussions and negotiations Linc Energy aims to reach a binding agreement with one of the remaining parties, supported by a cash deposit.
Whilst recent State and Federal legislative and regulatory changes have had to be addressed during the sale process, impacting upon initial completion timeframe estimates, the Company has continued to observe a strong level interest from overseas investors in securing access to Australian coal resources. As such, the Company remains committed to achieving a positive outcome from the Teresa coal tenement sale process in the near term.
Mr Peter Bond, Linc Energy’s CEO, said “

. The circumstances driving each potential buyer, even though similar in philosophy, have very different timetables and requirements. From my discussions with potential suitors for the Teresa coal asset, the recent stock market correction does not appear to have affected their long term view or their immediate requirements.”