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November 18, 2010 --- Vol. 16, No. 104November 2010

Linc finds gas at LEA No. 1, prepping Trading Bay well

Linc Energy’s first Alaska well encountered “a number of gas bearing horizons” and “a number of significant coal seams,” the Australian-independent announced today.

Linc Energy drilled the LEA No. 1 well to a target depth of 6,323 feet. Linc, which spud the well in late October, said it completed the drilling program on time and on budget.

LEA No. 1 is an onshore vertical well near Point MacKenzie.

After completing the well, Linc ran and cemented 7-inch casing. Now, the company is planning tests to measure the potential of commercial gas production from the prospect.

The company expects those tests to take about a month.

In addition to testing LEA No. 1, Linc is planning “phase two” of its local natural gas drilling program, focusing on its onshore leases at Trading Bay, on the west side of the Cook Inlet basin, south of Tyonek. Linc has yet to release much information about its target at Trading Bay, but GeoPetro previously discussed a prospect called Cottonwood Creek based on natural gas shows in the Tyonek sandstones that Shell apparently encountered in 1967 while looking for oil in the deeper Hemlock formation.

See full story in Nov. 21 issue, available online to subscribers at noon, Friday, Nov. 19 at www.PetroleumNews.com

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