Jul 14, 2010 18:59 AEST Linc Energy Limited (ASX:LNC) Completes Acquisition Of 122,000 Acres Of Alaskan Oil And Gas Leases

Brisbane, July 14, 2010 - (ABN Newswire) - Further to the announcement made on 2 March 2010, Linc Energy Limited (ASX:LNC) (PINK:LNCGY) is pleased to announce that its wholly owned subsidiary, Linc Energy (Alaska), Inc., has completed the transaction with the successful acquisition of 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:GPR).

The finalisation of this transaction follows the opening last month of Linc Energy's project office in Anchorage, Alaska.

"The completion of the acquisition of these oil and gas leases in the Cook Inlet Basin marks the end of the first stage of Linc Energy's strategy to enter the Alaskan region," said Chief Executive Officer Peter Bond.

"The acquisition of this acreage and the commencement of operations on the ground in Alaska create fantastic opportunities for the Company to secure short-term revenue opportunities from its traditional oil and gas prospects, whilst also establishing an immediate ability to pursue further opportunities for Underground Gasification for cleaner power and fuels within the regions significant coal deposits," said Bond.

"We are building a Linc Energy team in Alaska and will be commencing our exploration drilling program with our first gas well 'spudded' by late September 2010".

Link: http://www.abnnewswire.net/media/en/docs/63307-ASX-LNC- 222059.pdf About: Linc Energy Ltd

Linc Energy Limited (ASX:LNC) (PINK:LNCYF) is an innovative, forward-thinking company developing a significant energy business based on the production of cleaner energy solutions.

Linc Energy has successfully combined two known technologies, Underground Coal Gasification (UCG) and (GTL) and has demonstrated its vision of being a leading supplier of a new source of cleaner liquid transport fuels for the future.

UCG technology provides access to coal, deep underground and by in-situ gasification produces a high quality synthesis gas () containing carbon monoxide and hydrogen.

Aboveground, in the GTL process, syngas is processed via Fischer-Tropsch technology to produce high quality, sulphur free synthetic hydrocarbons.

Linc Energy plans to combine its UCG and GTL technologies commercially at sites in and around the globe as it realises its vision of becoming the world's leader in providing cleaner synthetic diesel and jet fuels from stranded coal resources.

UCG produced syngas can also be used as a feedstock to generate gas turbine combined cycle power, resulting in reduced greenhouse gas emissions.

With significant coal deposits suitable for UCG technology, Linc Energy can provide alternative sources of liquid fuels and power generation well into the foreseeable future.

Linc Energy represents a new future for liquid fuels production and high efficiency energy generation.

Contact: Greg Meyer Media Manager Phone: +61-7-3229-0800 Email: [email protected]

Craig Ricato Company Secretary Phone: +61-7-3229-0800 Email: [email protected]

Glen Zurcher Investor Relations Manager Phone: +61-7-3229-0800 Email: [email protected]