Linc Energy Buys Alaskan Leases For Small Sum
02 März 2010 - 12:59AM
Dow Jones News
Linc Energy Ltd. (LNC.AU) said Tuesday it has acquired 123,000
acres of Alaskan oil and gas leases for an upfront payment of US$1
million, subsequent US$4 million milestone payment, and royalties
of 7%-10% on all future production.
The acquisitions involves three sets of leases granted to U.S
independent GeoPetro Resources Co. by various state bodies.
Planning is underway for a 2010 Alaskan drilling program and the
leases could generate revenue of "up to US$100 million a year" from
natural gas, Linc Chief Executive Peter Bond said in a
statement.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
ross.kelly@dowjones.com
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