Found this on the other site, contributed by Uncle Buck.Initialy...

Found this on the other site, contributed by Uncle Buck.
Initialy it is the same old, same old BUT it gets interesting down towards the bottom, with some newer updates.



We recently spoke with Mr. Anthony Watson, General Manager Commercial, Linc Energy to better understand the recent news on Umiat, Alaska and updates on other assets.

¦ Flow achieved at Umiat 23H well; management remains optimistic:

Linc Energy recently announced successful oil flow at 23H well in Umiat with peak flow rates of 800bopd and sustained flow rate of 250bopd. Rates are expected to increase to 2000bopd via gas injection with management flagging that gas availability is not a concern. With flow rates achieved, some parts of the reserves are expected to be upgraded to 1P, which remains limited to reserves associated with the well drilled. Next drilling program is scheduled in Jan 2015.
Management also remains optimistic that Alaskan tax rebates will be maintained for oil and gas companies in spite of a referendum being carried out on SB21 (new oil and gas bill) in August 2014. Linc Energy also expects the capex (net basis) to be significantly lower at around US$600-700mn vs Ryder Scott's guidance of US$1.8bn on the back of various tax rebates (AIDEA, SB21) and infrastructure support buildup.


¦ Potential to more than double production by end ‘14:

Linc Energy is hopeful to double production at Gulf Assets (we believe ~11,000-12,000 bopd by end ‘14 vs ~5000 bopd currently) on the back of:

a)8-10 wells at Cedar point and Atkinson Island (we estimate ~4,000 bopd);

b) potential drilling of a sub-salt well in mid ‘14.

Sustaining production from existing wells remains a key factor to achieve target levels.


Mid-14 drilling target at Arckaringa shale:

Management remains on track for 3-4 potential wells in Arckaringa shale asset by mid ‘14. We estimate drilling program to cost US$8-12mn.

¦ UCG discussion ongoing; coal divestment targeted by 2H14:

Management is hopeful of achieving progress on UCG in Asia while coal asset unlocking is targeted by 2H14 (via divestment or IPO). (Read Report)

Source : JP Morgan Asia Pacific Equity Research