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Coal and Oil: Their Role in Fueling our Future Peter Bond, Chief Executive Officer and Managing Director of Linc Energy Ltd Balancing the demands of energy security, efficiency and environmental protection, the so-called 3Es, presents a complex set of challenges for countries wanting to use resources within their borders to power their economies but not at the cost of the environment. Within this scenario, traditional resources such as coal and oil can be overlooked, however technology and demand are creating a renewed interest in coal and prompting a new look at oil reserves that were previously considered depleted. The World Energy Outlook 2011 said ".significant technological improvements do occur, aided by higher energy prices."1 Linc Energy is a company focused on realising the value of resources through our advanced, proprietary technology, as follows: n Utilising Underground Coal Gasification (UCG) to harness the potential of stranded coal, which is too deep to mine;n Using the syngas produced via UCG to create clean diesel fuel through Gas to Liquids (GTL) processing; and n Extracting the maximum amount of oil from previously tapped wells, using Enhanced Oil Recovery (EOR.) I am often asked what Linc Energy is all about and I am pleased to respond by saying that our approach to energy production is about fueling the future and in this International Year of Sustainable Energy for All, it seems particularly relevant. My company shares many of the views expressed by this important initiative, such as: "Energy is opportunity. It transforms lives. Economies ..."2 Linc Energy is a diverse, publicly listed company, active all over the world in search of opportunities to create energy. We have three energy divisions: Oil and Gas & Enhanced Oil Recovery; Coal and Clean Energy. When I took over the company in 2004, it was in the firm belief that UCG and GTL could provide a significant choice for countries looking to overcome fuel challenges - particularly in relation to transportation fuels - and to do so economically. Since then, Linc Energy has grown to be a company listed on the Australian Securities Exchange (LNC) with a market capitalisation of AU$1.5 billion and which is traded in the United States via the OTCQX (LNCGY.) Globally, 2012 will see a series of major meetings and initiatives: the world's leading industrialised nations will meet at the G8 Summit in the United States in May and the Rio+20 Summit will mark 20 years since the Rio Earth Summit. This confirms to me just how crucial it is that the world looks at solutions that are currently being put into practice. UCG and GTL are not in the distant or even medium-term future, they are providing solutions now. These solutions will help meet burgeoning demand, particularly in transportation fuels, that will only grow over the next 20-plus years. Scenarios developed by the International Energy Agency (IEA) predict that: "All of the net increase in oil demand comes from the transport sector in emerging economies, as economic growth pushes up demand for personal mobility and freight. Oil demand (excluding bio-fuels) rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035. The total number of passenger cars doubles to almost 1.7 billion in 2035. Sales in non-OECD markets exceed those in the OECD by 2020 ."3 ? Below: Linc Energy diesel Dash Right: Peter Bond064 clean coal technology

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