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Linc Energy to start drilling wells in Australia's Arckaringa Basin

Published on Jul 3, 2014 10:30 AM

SINGAPORE - Singapore-listed Linc Energy said on Thursday it will start drilling three new wells in the Arckaringa Basin in South Australia.

The company will fund the targeted exploration programme itself before possibly finding partners for phases two and three of the development, it said.

The basin has a potential 103 billion barrels of oil equivalent in recoverable oil and gas reserves and is poised to be a key focus for Linc Energy, the company added.

Its research so far also suggests that the conventional oil opportunities are significant with several very good conventional oil well opportunities identified for exploration in the near future.

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