Linc Energy Limited (ASX:LNC) Oil Shale Discovery Viewed As A Significant Strategic Project For South Australia

Brisbane, Sep 29, 2011 AEST (ABN Newswire) - Linc Energy Limited (ASX:LNC) is pleased to announce that the South Australian Government is pro-actively supportive of Linc Energy's Oil Shale exploration and development program.

In a statement released yesterday the Minister for Mineral Resources Development, Tom Koutsantonis, said Linc Energy's announcement of the discovery of shale oil and Altona Energy's proposed coal-to-liquid project, both in the Arckaringa Basin proves the significant prospectivity of the area.

"This is the first time shale oil has been specifically targeted in South Australia's Arckaringa Basin, which has historically been the focus of coal exploration," Minister Koutsantonis said.

"The discovery at Linc's Arck 1 stratigraphic well in PEL 122 reinforces the prospectivity for shale oil in the Arckaringa Basin."

Peter Bond, Chief Executive Officer of Linc Energy said, "Linc Energy is pleased to have the support of the South Australian Government in its bid to explore and develop the Arckaringa Basin, and in particular our discovery which may contain an oil shale deposit of over 200 billion tonnes."

Contact

Information for Media: Heather Stewart Media Manager Phone: +61-7-3229-0800 E-mail: heather.stewart@lincenergy.com ASX Contact: Brook Burke Company Secretary Phone: +61-7-3229-0800 E-mail: brook.burke@lincenergy.com Information for Investors: Justyn Peters General Manager Investor Relations Phone: +61-7-3229-0800 E-mail: justyn.peters@lincenergy.com