Linc Energy has released an updated qualified persons report (QPR) that suggests it may have better shale oil prospects in South Australia than previously thought.
The QPR confirms that a large area of the Arckaringa Basin contains Permian strata rich oil-prone kerogen that could form the basis of a "new liquids rich shale play" there.
This comes following Linc Energy's FY15 exploration programme on its shale oil exploration leases in the Arckaringa Basin.
The QPR was prepared by Gustavson Associates LLC, a third-party oil, gas and mining consulting firm, on request by Linc Energy.
Linc Energy has exploration rights to the Arckaringa Basin. Its petroleum exploration licences and petroleum licence applications cover all of the known prospective areas within the site, measuring about 142 million contiguous acres.
Linc Energy says it remains "extremely confident" in the value of its Arckaringa Basin assets and it is focused on unlocking value there.
At 9.18 am today, Linc Energy was flat at 20 cents with some 1.4 million shares traded.
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The QPR confirms that a large area of the Arckaringa Basin contains Permian strata rich oil-prone kerogen that could form the basis of a "new liquids rich shale play" there.
This comes following Linc Energy's FY15 exploration programme on its shale oil exploration leases in the Arckaringa Basin.
The QPR was prepared by Gustavson Associates LLC, a third-party oil, gas and mining consulting firm, on request by Linc Energy.
Linc Energy has exploration rights to the Arckaringa Basin. Its petroleum exploration licences and petroleum licence applications cover all of the known prospective areas within the site, measuring about 142 million contiguous acres.
Linc Energy says it remains "extremely confident" in the value of its Arckaringa Basin assets and it is focused on unlocking value there.
At 9.18 am today, Linc Energy was flat at 20 cents with some 1.4 million shares traded.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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