Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) is pleased to announce it has reached agreement on the terms for an extension of its previously announced A$120 million Line of Credit facility with an affiliate of Fortress Investment Group LLC until 24 July 2015. The agreement is subject to standard conditions precedent expected to be satisfied within the next 30 days.
In accordance with listing rule 3.13.1, Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) advises that the 2012 Annual General Meeting has been scheduled for Thursday 29 November 2012 at 3.00pm at the Brisbane Convention & Exhibition Centre. At that meeting, an item of business will be the election of directors.
Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) is pleased to announce that its Gulf Coast oil fields have survived Hurricane Isaac relatively unscathed. The storm passed directly over the Company's Leeville field, located in Louisiana, which sustained minimal damage. The facilities will require routine maintenance, however the Company expects the field to return to production in the next few days. Production from the Leeville field is approximately 85 barrels of oil per day (BOPD), so the effect on Linc Energy's overall production volumes will be negligible. None of Linc Energy's other Gulf Coast fields was touched by the storm. Our current Gulf Coast production is approximately 4,200 BOPD and remains on schedule to reach 6,000 to 7,000 BOPD by year's end.
Linc Energy Limited (ASX:LNC) (OTCQX:LNCGY) is pleased to announce the completion of an independent reserve estimate report for 100% of the Company's interest in the Umiat oil field project ("Umiat project") located in Alaska, USA.
Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) is pleased to announce that following the completion of the recent corporate restructure and cost reduction process, the Company has appointed BKK Partners as its financial advisor. BKK Partners is a highly-regarded financial advisory practice with extensive experience in M&A, corporate finance and Government regulation and supervision both in Australia and internationally.
Linc Energy (ASX:LNC) (OTCQX:LNCGY) today provided an update on the outcome of the review of business operations and resulting budget cuts that was initiated 90 days ago.
Linc Energy Ltd (ASX:LNC) (OTCQX:LNCGY) - a globally focused, diversified energy company with a strong portfolio of coal, oil and gas deposits, is pleased to report on its USA Oil & Gas March - June 2012 drilling and production activity.
