Linc Energy Limited (ASX:LNC) Terminates Contract with ERG Resources LLC

Brisbane, July 20, 2011 AEST (ABN Newswire) - Linc Energy Limited (ASX:LNC) (PINK:LNCGY) wishes to advise that its wholly owned subsidiary, Linc Gulf Coast Petroleum Inc. ("Linc Gulf Coast"), has terminated the contract (previously announced on 6 June 2011) to acquire oil field assets in Texas and Louisiana from ERG Resources LLC ("ERG").

On 19 July 2011 (USA time), Linc Gulf Coast exercised its contractual right to terminate the transaction after notifying ERG of certain alleged title defects identified during due diligence enquiries and closing preparation.

Linc Gulf Coast intends to pursue other opportunities in the USA.

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 Information for Investors: Justyn Peters General Manager Investor Relations Phone: +61-7-3229-0800 E-mail: justyn.peters@lincenergy.com.au http://www.lincenergy.com.au