Linc Energy Ltd has acquired the grant of 181,414 acres of Underground Coal Gasification (UCG) coal exploration licences in Alaska from the Alaska Mental Health Trust Authority following a competitive bidding process.
This is an excellent outcome for Linc Energy which greatly advances our strategic goal to bring commercial UCG development to Alaska and become a significant part of the USA domestic energy market. We have known for a long time that Alaska, and the Cook Inlet Basin in particular, holds significant coal deposits. Importantly, the decision confirms that we were successful in obtaining 100 per cent of the exploration areas we applied for in the competitive tender process.
—Peter Bond, CEO
The gaining of this acreage marks Linc Energy’s entry into stage two of its Alaska plan. In conjunction with its continuing oil and gas program, coal exploration for UCG will be conducted aggressively over the next 24 months, said Bond. (Earlier post.)