Linc Energy Limited (ASX:LNC) Announces On-Market Securities Buy-Back

Brisbane, Sep 12, 2011 AEST (ABN Newswire) - Linc Energy Limited (ASX:LNC) (OTCQX:LNCGY) today announced its intention to conduct an on-market buy-back of up to 5% of the Company's fully paid ordinary shares. The Company has elected to undertake an on-market securities buy-back as a capital management strategy due to the opportunity presented by the current share price.

Linc Energy is well positioned to pursue an on-market securities buy-back due to its low borrowing levels and strong cash position.

Linc Energy's CEO and Managing Director, Peter Bond, said, "Linc Energy remains focused on delivering its strategic objectives regarding the commercialisation of UCG in Australia and overseas, the immediate development of significant operating revenues from oil and gas production in the USA, and the divestment of its Teresa coal asset in Queensland, Australia. We believe that the current share price and the progress Linc Energy is making on its business objectives has presented the Company with an immediate opportunity to pursue a share buy-back which will enhance future returns for our shareholders."

The earliest the buy-back could commence is 26 September 2011 based on regulatory requirements and the buy-back may occur any time during the following 12 months. Linc Energy will proceed with buying back securities subject to the prevailing share price satisfying the conditions outlined above. Linc Energy reserves the right to suspend or terminate the buy-back at any time.

An Appendix 3C regarding the on-market securities buy-back has been lodged with the ASX today.

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