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oal, oil and gas are still critical sources ofenergy to harness to fuel economies. The task today is how to balance thesetraditional resources with the advent ofour new carbon conscious era.Linc Energy is a company committed to realising thevalue of its resources to produce more sustainableenergy solutions to fuel nations and economies. In thepast 12 months I have taken the company into anexciting new territory with significant environmentalupsides. On top of our successful work in UndergroundCoal Gasification (UCG), I have established an oil andgas division to focus on the acquisition of these assetsin the United States.If you think about what we have at the core of Linc Energy and what drives our business strategy, it isthat we are a company focused on creating value fromexisting fossil resources by transforming them fortomorrow's energy needs, with respect for today'senvironmental consciousness.I have brought to Linc Energy a philosophy ofaccessing stranded fossil fuels to create valuableenergy products. I have applied this philosophy to UCGand our entrance into the United States oil and gasmarket. You may wonder what prompts someone inthis climate to diversify into oil? I can tell you thatestablishing oil projects in North America will placethe company in a unique position and allow us a clearpath to immediate revenue. I see acquiring global oiland gas assets as a vital component of Linc Energy'svalue-adding business strategy. We have plans to acquire enough oil producing assetsto meet 100,000 barrels of oil production per day.With this oil and gas acquisition strategy and thetraditional oil production activities that this brings, we will also look to apply Enhanced Oil Recovery (EOR)methods to sweep stranded oil from existing oilreservoirs. By applying EOR techniques to an existing,near depleted oil field we will increase the amount ofrecoverable oil from a conventional field by 10 to 20per cent to generate considerably higher cash flows forall of our energy projects.Over the past few months we have been aggressivelyexpanding our presence into North America bypurchasing a number of strategic oil and gas assets.We recently announced the acquisition of a controllinginterest in over 19,000 acres of oil tenure located inAlaska's National Petroleum Reserve. Known as the"Umiat" oil field, it is currently projected to have inexcess of 50,000 barrels of original oil in place per dayat peak production, providing us with the potential toaccess about one billion barrels of Alaskan (API 37)Light Sweet Crude.An acquisition of this size is unprecedented in Linc Energy's history and gets the companysignificantly closer to its long-term goal of one billion barrels of oil reserves, meaning an oil productionrate of more than 100,000 barrels per day. Thisacquisition has definitely given us enhanced exposureto the North American region, which has even beenrecognised by the Alaskan Governor Sean Parnell.The energy potential in this area is simply staggeringand virtually impossible to replicate in any other partof the world. The Umiat oil field will now becomeLinc Energy's Alaskan operational foundation fromwhich to increase oil and natural gas exploration anddevelopment activities in the foothills of the NorthSlope region. Earlier this year we also acquired oilfields in the heart of America's energy hub - theRight: Linc Energy CEOPeter Bond drove 6,000 kilometres acrossAustralia on its syntheticdiesel produced usingUCG and GTL processesCOALANDOILNEED A PLACEINOURCARBON CONSCIOUS WORLD 120G20 MEMBER COUNTRIESPETER BOND, CHIEF EXECUTIVE OFFICER AND MANAGING DIRECTOR OF LINC ENERGY LTDC" "ANY CARBONDIOXIDE THAT WECAN SEQUESTERTO GENERATEMORE ENERGY TOHELP SUPPLY TRADITIONALGLOBAL ENERGYNEEDS IS A POSITIVE STEP

G20 MEMBER COUNTRIES117