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NEWS BULLETIN

April 01, 2014 --- Vol. 20, No. 18April 2014

Linc conducts successful flow test at Umiat

Linc Energy Ltd. sees a “clear path” to development of the Umiat oil field after a flow test produced a sustained rate of 250 barrels of oil per day, according to the company.

The Australian independent produced a total of 650 barrels of oil from the Umiat No. 23H well during four flow tests conducted over seven days at the undeveloped field in the foothills of Alaska’s Brooks Range Mountains. The well flowed at the peak rate of 800 bpd, according to the company. On-site analysis suggests the oil is light, sweet 38.5-degree API oil with no water, but Linc intends to perform more in-depth laboratory analyses.

With a gas drive installed, Linc believes the well could flow at 2,000 bpd. The company believes full field development of Umiat could yield as much as 50,000 bpd at its peak.

—Eric Lidji

See story in April 6 issue, available online at 11 a.m., Friday, April 4 at www.PetroleumNews.com

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