Linc Energy Limited (ASX:LNC) Update On Potential Sale Of Teresa Coal Asset

Brisbane, May 26, 2011 AEST (ABN Newswire) - Linc Energy Limited (ASX:LNC) (PINK:LNCGY) wishes to respond to a report appearing in today's Dow Jones Newswires in relation to the potential sale of its Teresa coal asset.

Linc Energy advises that it is conducting a competitive bid process with a number of parties from a number of geographic locations for the potential sale of the Teresa coal asset.

This process remains commercial in confidence, and whilst well advanced, no binding, or unconditional contracts of sale have been agreed with any specific party.

Linc Energy will immediately advise the market should this position change.

Peter Bond CEO of Linc Energy said; "Linc Energy is talking to a number of parties about a potential sale of the Teresa coal asset. I am confident of a very good sale outcome, but we will not be announcing any details of any deal until it is nailed down to a point of being unconditional with some money in the bank."

Contact

Information for Media: Greg Meyer Media Manager Phone: +61-7-3229-0800 E-mail: greg.meyer@lincenergy.com.au ASX Contact: Brook Burke Company Secretary Phone: +61-7-3229-0800 E-mail: brook.burke@lincenergy.com.au http://www.lincenergy.com.au