Linc Energy Limited

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) announced a proposed share purchase plan (SPP) under which eligible ordinary shareholders would be entitled to apply for up to A$15,000 worth of new ordinary fully paid shares in the Company.

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) has today executed a contract with Aker Solutions to jointly develop the conceptual design of Linc Energy's proposed 20,000 barrels per day commercial Gas to Liquids (GTL) facility that is planned to be based in South Australia.

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) has successfully completed an institutional placement of 41,000,000 new ordinary shares at A$1.40 per share to raise A$57.4 million in capital. The placement was heavily oversubscribed, receiving strong support from a range of existing and significant new institutional investors. The placement and the underwriting of the SPP were managed by BBY Limited.

Over the past quarter, Linc Energy Limited (ASX:LNC)(PINK:LNCGY) signed a purchase agreement with Wyoming-based GasTech Inc to acquire 92,059 acres of Powder River Basin coal tenements. Based on existing drilling data the tenements are expected to have a total coal deposit exploration target range of 7 to 8 billion metric tonnes (non-JORC Code standard).

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) announces that the Company has appointed Daryl Rattai to the position of General Manager of the Underground Coal Gasification division commencing on Monday, 3rd August 2009. Daryl has over 20 years experience across a range of companies in the Oil & Gas industry throughout Canada, USA, Australia and other locations.

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) announces that it has made further significant progress in demonstrating the combination of its Underground Coal Gasification (UCG) and Gas to Liquids (GTL) technologies.

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) announces that it has made further significant progress in demonstrating the combination of its Underground Coal Gasification (UCG) and Gas to Liquids (GTL) technologies.

Yesterday the Australian market posted a massive drop following a significant decline in Wall Street. The benchmark S&P/ASX200 index tumbled 3.1 per cent, or 121.3 points, to 3796.9 yesterday, while the broader All Ordinaries lost 117.8 points, or 3.01 per cent, to 3793. Investors would become nervous after the losses in recent trading sessions, although the rebound in commodities prices may help to lift the local market.

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) today announced the appointment of UBS Investment Bank to act as manager and advisor on the strategic divestment process of the company's high potential coal mining areas at Emerald (Teresa), Galilee and Pentland, which have recently been subject to numerous inbound inquiries from interested parties. These properties are strategically positioned with resource potential of considerable scale and coal quality.

Last Friday, the Australian shares ended higher for the first time in a week. The benchmark S&P/ASX200 index gained 7.5 points, or 0.19 per cent, to 3,899.6 points, and the broader All Ordinaries index advanced 7 points, or 0.18 per cent, at 3894.4 points.