Linc Energy Limited (ASX:LNC) Spuds First Alaskan Gas Exploration Well (Lea #1)

Perth, Oct 25, 2010 AEST (ABN Newswire) - Further to its previous announcement of 14 July 2010, Linc Energy Limited (ASX:LNC) (OTCQX:LNCGY) is pleased to announce that it has now spudded its first gas exploration well (LEA #1) on the Company's oil and gas leases located in the Cook Inlet Basin.

The spudding of the LEA #1 well is the first drilling activity in Linc Energy's Alaskan exploration program. The well has been designed to target a number of stacked gas objectives whilst intersecting regional coal measures.

The CEO of Linc Energy, Peter Bond, said, "Spudding LEA #1 in such a short period since the acquisition of these leases is a significant achievement by Linc Energy's Alaskan staff and one which further demonstrates our committed effort to enter the United States energy market. These Alaskan assets will be a definitive part of the early cash-flow opportunities for Linc Energy in the months ahead. I look forward to updating the market on the results from LEA #1 and the expansion of our operations and exploration activities within Alaska in due course".

Contact

Mr Peter Bond Chief Executive Officer Ph: +61-7-3229-0800 Email: pab@lincenergy.com.au