COMPANY HISTORY

DATE

EVENT

October 1996

Incorporation of Linc Energy N.L.

July 1999

Development of Chinchilla Demonstration Facility

January 2000 – April 2002

Gasifier 1 trial began for stable syngas production and composition suitable   for power generation. Gasifier 1 also demonstrated the linked vertical well and effective gasifier shutdown and decommissioning.

November 2000

Changed name from Linc Energy N.L. to Linc Energy Ltd

May 2006

Listed on the Australian Securities Exchange – LNC

August 2007

Linc Energy enters into a Memorandum of Understanding with Vietnam National Coal and Mineral Industries Group and Marubeni Corporation (VINACOMIN) to form a joint venture company to develop the Red River Delta coal basin in Vietnam using Linc Energy’s Underground Coal Gasification (UCG) process, and to use that UCG gas for feeding a proposed combined cycle gas fired power station.

October 2007

Linc Energy acquires controlling interest in Uzbekistan's Yerostigaz – the only commercially operating UCG company in the world.

October 2007 – December 2007

Gasifier 2 trial began to determine possible techniques for commercial operations.

December 2007

 Listed on QTCQX

October 2008

Linc Energy acquires South Australia petroleum and gas explorer, SAPEX Limited. This provided Linc Energy with access to Petroleum Exploration Licences and Exploration Licences across the Arckaringa, St Vincent and Walloway Basins in South Australia.

October 2008

Linc Energy signs a Business Cooperation Contract with VINACOMIN and Marubeni Corporation to undertake a project to develop UCG and Gas to Liquids (GTL) in the Red River Delta adjacent to Hanoi in Vietnam.

October 2008

Combined UCG and GTL success with the first production of liquids at the Chinchilla Demonstration Facility.

June – August 2009

Gasifier 3 trial began to demonstrate linked vertical wells using a horizontally drilled well, stable syngas production and effective gasifier shutdown and decommissioning.

September 2009

First United States coal acquisition with the purchase of 92,059 acres of Powder River Basin coal leases from GasTech Inc.

December 2009

Acquired an additional 81,268 acres of coal lease areas in Wyoming, Montana and North Dakota, United States from GasTech, Inc. and its related company, Wold Oil Properties, Inc.

February 2010

Gasifier 4 trial began to demonstrate continuous syngas production, directional drilling technique, modern well construction and configuration technically verified, modern ignition process confirmed, and water injection wells for hydrostatic pressure control.

March 2010

 Linc Energy expands globally - opening an office in Denver, USA.

May 2010

Linc Energy successfully commenced and commissioned the ‘oxygen injection’ process at the Chinchilla Demonstration Facility. The company’s UCG team executed changes in the key quality gas measures within hours of commencing the oxygen enrichment process, including an increase in gas flow rates.

July 2010

Linc Energy acquires approximately 122,000 acres of State of Alaska and Alaskan Mental Health Trust oil and gas leases located in the Cook Inlet Basin, Alaska from GeoPetro Alaska LLC (NYSE Amex: GPR).

August 2010

Linc Energy sells non-core coal tenements in the Galilee Basin in north west Queensland to Adani Mining Pty Ltd, a subsidiary of Adani Enterprises Ltd, for $A500 million in cash and a $2 per tonne royalty (indexed for CPI) for the first twenty years of coal production, creating a total cash stream of approximately $A3.0 billion.

October 2010

Linc Energy acquires 10 per cent of AFC Energy, a UK-based and London Stock Exchange AIM market listed hydrogen fuel cell company focused on the development and construction of low cost hydrogen fuel cells for the cleanest power generation.

October 2010

Linc Energy spudded its first gas exploration well on its oil and gas leases located in the Cook Inlet Basin, Alaska.

January 2011

Linc Energy, successful in its tender application to the Alaska Mental Health Trust Authority, was granted 181,414 acres of Underground Coal Gasification (UCG) coal exploration licences in Alaska.

February 2011

Linc Energy acquires three producing oil fields (approximately 27,856 acres) from Rancher Energy Corp., securing immediate oil production and a significant carbon dioxide enhanced oil recovery opportunity.

March 2011

Linc Energy Chief Executive Officer and Managing Director Peter Bond drove from Chinchilla to Perth on ultra-clean diesel fuel created from Linc Energy’s UCG to GTL technologies.

April 2011

Linc Energy awarded the Best Clean Energy Company Australasia/Pacific by The New Economy magazine.

June 2011

Linc Energy spudded its first oil well, Haystack 1, in the Arckaringa Basin, South Australia as part of its extensive 10 well oil exploration program in the region.

July 2011

Linc Energy purchased Renaissance LLC, a company holding an 84.5% interest in Renaissance Umiat LLC. Renaissance Umiat LLC holds a 100% working interest in the Umiat oil field and an 80% net revenue interest in the project.

September 2011

Linc Energy celebrates 50 years of commercial UCG at its Yerostigaz facility in Angren, Uzbekistan. Yerostigaz is the only operating commercial UCG facility in the world.

October 2011

Linc Energy has acquired 14 oil fields totalling 156 leases covering approximately 13,400 acres in the Gulf Coast Region of Texas and Louisiana from ERG Resources LLC, at a purchase price of US$236m.

October 2011

 Linc Energy signs an MoU with UK Coal.  Linc Energy will explore the use of UCG across three UK Coal mines to unlock stranded UK coal resources.

October 2011

Linc Energy announced the completion and start-up of it's fifth gasifier at Chinchilla, Australia, which was commissioned and producing UCG Syngas within 60 minutes of ignition.

November 2011

Linc Energy secures 1.2 billion tonne coal exploration lease in Poland, in the south eastern part of the Upper Silesia Coal Basin.  The coal covers an acreage of 215 square kilometres where Linc Energy plans to commence exploration activities in 2012. 

November 2011

Exxaro Resources, South Africa’s largest coal producer and Linc Energy signed a Memorandum of Understanding (MOU) in November to jointly evaluate certain coal tenements in South Africa and Botswana for UCG suitability. 

May 2012

Linc Energy and its team flew more than 4,200kms across Australia in a jet aircraft powered by the company’s very own Jet A1 fuel.  The Citation CJ2 aircraft flew from Perth to Adelaide, Melbourne, Canberra, Sydney and on to Chinchilla over three days.