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opportunities that take conventional, depleted reservesof oil and create an opportunity for increased oil flow ata very cost-efficient price point.Enhanced oil recovery, or EOR, is a process growing inpopularity and technical expertise. In the UnitedStates alone there are about 100 commercial CO2-EOR projects in operation recovering approximately240,000 barrels of oil per day5. EOR works byinjecting carbon dioxide into near-depleted oilreservoirs that have been drilled conventionally fortraditional primary and secondary oil production. Thisprocess works to extract much of the remaining tertiaryoil, and in some cases, just as much oil can beextracted from the reservoir as was initially retrievedduring the oil fields' primary production days. EORalso works to sequester unwanted carbon dioxide fromother industrial processes, so it is an obvious win-win.The US Department of Energy has indicated that a totalof 1,673 oil fields or reservoirs have been identified forEOR6 and can collectively account for 400 billionbarrels of remaining oil of which about 85 billionbarrels are technically suitable for EOR methods ofrecovery7. This all paints an interesting picture fornations looking for innovative ways to secure more oilfor their economies. At the end of 2010, and aftermuch research and assessment, Linc Energyannounced that it intended to acquire a number of neardepleted oil wells in the United States where we alreadyhave a considerable amount of coal leases. It is ourvision to create value from stranded coal viaUnderground Coal Gasification (UCG) and associatedCO2, whilst harvesting significant volumes of oil fromdepleted oil fields by injecting this UCG created CO2into known oil and gas reserves to produce oil tocontinue to sustain our economies, as well as providecleaner energy solutions in today's now carbonconscious climate. Over 99 per cent of the CO2injected will remain underground in the old oil fields,making carbon dioxide flooding a very strong contenderas it is the most reliable storage zone for CO2, whichactually yields an energy benefit of more oil and gas.In March this year Linc Energy purchased its first threeoil fields in Wyoming's Powder River Basin. These oilfields currently produce 190 barrels per day throughtraditional means and we anticipate that there is thepotential to increase this daily production from 190barrels per day to 10,000 or even 20,000 barrels perday using commercial carbon dioxide flooding andEOR processes. We are aggressively pursuing theacquisition of other near depleted oil fields in otherareas of the Lower 48 to sweep stranded oil to thesurface via carbon dioxide flooding. One obviousenvironmental upside to the application of EOR is thatit also doubles as a form of carbon sequestration whereCO2emissions are negligible when stored in the thendepleted reservoir when production is complete andnot vented8. In fact, the US Department of Energy hasstated that EOR could be the enabling catalyst for034CLEAN COAL TECHNOLOGYlarge-scale sequestration efforts, indicating thatcurrent EOR projects are now sequestering a total of138 billion tonnes9.As an integrated energy company, Linc Energy is alsofocused on UCG which uses stranded coal where it liesin the ground to produce a synthesis gas feedstock tosupply commercial energy solutions such as cleanerelectricity generation, cleaner fuel production via Gasto Liquids (GTL) processes and the manufacture ofchemicals. Linc Energy is without doubt the globalleader in UCG and owns the world's only commercialfacility, which for the past 50 years has been producingsynthesis gas for electricity in Uzbekistan to powerlocal households. We have also constructed andcommissioned the world's only UCG to GTLdemonstration facility located in Queensland,Australia. It is at this facility that we have made theworld's only cleaner and better performing syntheticdiesel fuel from UCG and GTL processes. In fact, wedrove across Australia earlier this year, a distancefurther than Los Angeles to New York, on our owndiesel to prove to governments and communities alikethat this approach to fuel production not only producesan ultra-clean fuel, but a fuel that performs better thanconventional fuels in terms of both performance andfuel economy.As an energy enabler and developer, Linc Energy'sskills are in high demand right around the world asnations come to analyse their energy shortfalls andlook for energy solutions. It is our unique ability tosearch and execute energy opportunities that gives ussuch a prominent profile as well as the added benefitsfor economies and environments that our uniqueapproach to stranded resources brings, whether it bestranded coal or oil.Discover the energy company that is fueling our future:www.lincenergy.com.au nABOUT THE AUTHORPeter Bond is Chief Executive Officer of Linc EnergyLtd. He began his career in mining thirty years ago,after training as a metallurgist at BHP. At the age of23, his entrepreneurial streak shone and hepersonally raked and hand cleaned over 1,000 tonnes of coal, which he sold to a brick company for AU$17,000. After years in the coal industry, MrBond went on to own his own coal company. Sincethen he has been involved in transformingunderperforming companies into valuable assets, inboth Australia and overseas. From late 2004, and injust three years, Mr Bond has transformed LincEnergy from a small start-up to a successful IPO onthe Australian Securities Exchange (ASX) - and ontobecoming an AU$2 billion ASX200 company. MrBond is also a member of the BRW Australian RichList and is known for his philanthropic efforts.Above: Linc Energy hasproven it can makesynthetic diesel fuel fromits Underground CoalGasification and Gas toLiquids processes to fueleconomies

CLEAN COAL TECHNOLOGY0351Figures from 2007 cited in 'OilChapter', (2010), Australian EnergyResource Assessment, GeoscienceAustralia and ABARE, Canberra, p 41.2International Energy Agency figurescited in 'Oil Chapter', (2010), AustralianEnergy Resource Assessment,Geoscience Australia and ABARE,Canberra, p 41.3International Energy Agency figurescited in 'Oil Chapter', (2010), AustralianEnergy Resource Assessment,Geoscience Australia and ABARE,Canberra, p 41.4Statement of Administrator, EnergyInformation Administration, U.SDepartment of Energy to Committee onNatural Resources, U.S House ofRepresentatives, 17 March 2011,Richard Newell.5Advanced Resources InternationalInc, based on Oil and Gas Journal 2010and other sources accessed fromhttp://powerplantccs.com/blog/wp-content/uploads/2011/03/Current-US-EOR-activities1.png on 20.04.11.6'Fact Sheet: CO2Enhanced OilRecovery', Office of PetroleumReserves - Strategic UnconventionalFuels, Department of Energy, UnitedStates accessed 20 April 2011.7National Energy Technology Laboratory, (2010), Carbon Dioxide Enhanced Oil Recovery: Untapped Domestic Energy Supply and Long Term Carbon Storage Solution, Department of Energy, United States, p16.8'Fact Sheet: CO2Enhanced OilRecovery', Office of PetroleumReserves - Strategic UnconventionalFuels, Department of Energy, UnitedStates accessed 20 April 2011.9National Energy Technology Laboratory, (2010), Carbon Dioxide Enhanced Oil Recovery: Untapped Domestic Energy Supply and Long Term Carbon Storage Solution, Department of Energy, United States, p 19.REFERENCES