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LNC Linc Enrgy Fpo

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Share Name Share Symbol Market Type
Linc Enrgy Fpo ASX:LNC Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

Linc Energy Terminates ERG Resources Asset Acquisition

20/07/2011 12:24am

Dow Jones News


Linc Energy (ASX:LNC)
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Linc Energy Ltd. (LNC.AU) on Wednesday said it terminated a US$236 million deal to buy oil fields in Texas and Louisiana from ERG Resources LLC.

Linc said it has exercised a contractual right to terminate the transaction after "notifying ERG of certain alleged title defects identified during due diligence".

The Brisbane-based group said it intends to pursue other acquisitions in the U.S.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

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