Wednesday, July 25, 2012

Appointment of Financial Advisors & Management Change

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. BKK Partners  has advised the Company on a variety of initiatives since the commencement of the restructuring and cost reduction process and will now advise senior management and  the Board more broadly in the areas of M&A and finance.

The Company also wishes to advise that Mr Anton Rohner, the Company’s Chief Financial Officer, has resigned to take up a position with another company in Western Australia. Mr Rohner has  completed his  contribution to the  Company’s  corporate restructure and cost reduction process and will remain with Linc Energy to assist in the finalisation of the current end of financial year audit. The Company has commenced  the  recruitment  process for a new  CFO with experience managing multi-national operations and will advise the market once an appointment has been made. Mr Rohner will continue with Linc Energy until his current duties have been completed. The Company has a very experienced finance team in place, which is well-positioned to continue to manage the Company’s finances during any  transition period. The Company thanks Mr Rohner for his efforts over the past 3 years and wishes him all the best in his next endeavour. 

Company Profile

Linc Energy is a globally focused, diversified energy company with a strong portfolio of coal, oil and gas deposits. It is Linc Energy’s purpose to unlock the value of its resources to produce energy to fuel the future.

A publicly listed company, Linc Energy is the global leader in Underground Coal Gasification (UCG), which delivers a synthesis gas feedstock to supply commercially viable energy solutions – such as electricity, transport fuels and oil production  – through gas turbine combined cycle power generation, Gas to Liquids (GTL) Fischer-Tropsch processing and Enhanced Oil Recovery.

Linc Energy has constructed and commissioned the world’s only UCG to GTL demonstration facility located in Queensland, Australia. This facility produces the world’s only UCG to GTL synthetic diesel fuel. Linc Energy also owns the world’s only commercial UCG operation, Yerostigaz, located in Uzbekistan. Yerostigaz has produced commercial UCG synthesis for power generation for 50 years.

Linc Energy is on a rapid global expansion path to commercialise its portfolio of resources, with established offices across three continents in the United States, the United Kingdom and Australia.

Linc Energy is listed on the Australian Securities Exchange (LNC) and can also be traded in the United States via the OTCQX (LNCGY).

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