Retep, there may well be a billion barrels in place. Linc so far have demonstrated that there are zero barrels of oil able to be economically recovered and therein lies the problem with a sale today as there have been no test wells able to be exploited in any kind of production test. Good shale acreage (that produces recoverable oil) with current technology costs circa $65 per barrel to drill , frack and extract. Arck is prospective for oil - i.e. they suspect they could possibly find some good acreage if they are lucky.
Any buyer will have long term in mind and look forward to oil price recovery but there is still a risk that there is no great production acreage to be found there. Looks promising but nobody has delivered squat as at late 2015.
LNC Price at posting:
99.5¢ Sentiment: None Disclosure: Not Held
