Linc acquires Alaskan exploration licences

Company News

Clean coal technology company Linc Energy Ltd (ASX:LNC) has been awarded 100 per cent of the underground coal gasification exploration licence area that it tendered for in Alaska.

The Alaska Mental Health Trust Authority has granted Linc 181,414 acres of exploration licences in the northern American state for an undisclosed sum.

Linc says the decision comes after over six months of geological assessment and tender submissions and further advances the company’s goal to become part of the US domestic energy market.

Linc says the coal potential of this Alaskan acreage is shown to be extraordinary and Linc will aggressively conduct coal exploration for underground coal gasification over the next two years.

Linc Energy posted a net loss of $16.26 million in the 2010 financial year.