JUST RELEASED 18 November 2015 Correction – Business Wire Media...

JUST RELEASED

18 November 2015 Correction – Business Wire Media Article of 18 November 2015 regarding Linc Energy’s Arckaringa Basin shale oil assets Linc Energy Ltd (SGX:TI6) (OTCQX: LNCGY) informs the market that it has become aware of a news article released on Business Wire at 12.19pm (AEST) today purporting to announce that the Company has signed an agreement for the sale of its South Australian shale oil assets (SAPEX). The Company advises that the article was not sourced from Linc Energy nor does the Company have any commercial relationship with the media company named in the Business Wire article. The article is factually incorrect in a number of respects, in particular the Company wishes to advise that it has not entered into a binding agreement to sell its SAPEX assets at this time. Linc Energy confirms the following:  The Company entered into a Confidentiality, Due Diligence and Exclusivity Agreement (“MoU”) with an Australian company on 11th November 2015 in relation to its SAPEX assets;  Under the MoU, the counterparty has thirty days of exclusivity from the date of execution to undertake due diligence on the Company’s SAPEX assets;  The counterparty has commenced due diligence in accordance with the MoU;  No formal negotiations regarding the sale of the SAPEX assets have been held at this time;  Commencement of formal negotiations is subject to satisfaction of due diligence. Should the parties progress to formal negotiations following the due diligence period and an offer capable of acceptance is tabled and approved by Linc Energy’s Board, an appropriate resolution regarding any proposed transaction would be put before Linc Energy shareholders for approval at an appropriate time. Any such transaction would also be subject to regulatory approvals, none of which have been sought at this stage. Linc Energy will continue to comply with its ongoing disclosure obligations and will update the market as necessary.