Linc Energy (LNCYF.PK, LNCGY.PK) announced it has been awarded the Kobior Coal Exploration License in the central Upper Silesian Coal Basin, Poland. The area contains anticipated economic resources in the order of 2.8 billion tonnes of coal.
Peter Bond, CEO of Linc Energy, said: "The Kobior license allows Linc Energy to build on the exciting progress achieved to date in our PWD license area by adding further prospective UCG assets in a country with a high demand for gas and strong support of UCG from the Government. The conversion of this volume of incremental coal resource could, on its own, be sufficient to supply 20% to 35% of Poland's gas requirements for decades to come, its actually possible that Poland could become energy independent on the back of UCG."
Linc Energy is focused on both conventional and unconventional oil and gas production. The company owns a diverse and world-class commodity portfolio that includes oil, gas, shale and coal. Linc Energy is listed on the SGX (Singapore) and the OTCQX (USA).
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