100% hit rate on the Frio trend for the first 2 wells so far.
The 3rd well will test the Frio trend and the deeper Vicksburg trend. The hit probability of the 3rd well is now better than 90%.
There are 7 more targets to be drilled at Cedar point... At this success rate, Linc can easily exceed it oils production target of 6,000bopd by Dec 2013..
"The good news is Linc Energy has eight (8) oil fields that we can deploy this strategy upon in the Gulf Coast alone, with targets in the next two fields already identified and being studied."
LNC Price at posting:
$1.89 Sentiment: None Disclosure: Held
