LINC ENERGY LTD
Significant Exploration Target Identified
LNC - Emerald Drilling and Chinchilla Pilot Plant Update - Mr Peter Bond, CEO
Tue, 29 Jul 2008 01:45PM
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Mr Peter Bond
Tue, 29 Jul 2008
01:45PM Australia/NSW
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LINC ENERGY LTD (LNC)
ASX code: LNC
Website: http://www.lincenergy.com.au/
Industry: Energy
Principal Activities:
Supplier of environmentally friendly power, diesel and jet fuels.
Address:
, 10 Eagle Street, Level 7,
BRISBANE
QLD
Phone: (07) 3229 0800
Fax: (07) 3229 6800
Executives & Directors
Mr Brian Johnson , Chairman, Non Exec. Director
Mr Peter Bond , Managing Director
Mr Ken Dark , Non Exec. Director
Mr Stephen Dumble , Chief Op. Officer
Mr Rob Stratford , CFO
Mr Craig Ricato , Company Secretary
Company Podcasts
Company ASX Announcements
Company ASX announcements can be viewed on the ASX website.
Announcements from the preceding six months are shown below.
Please refer to the relevant stock exchange if any of the above information is incorrect
LINC ENERGY LTD (LNC) Events
Australia/NSW
LINC ENERGY LTD (LNC)
| Chinchilla GTL Demonstration Plant Update | Mon, 29 Jun 2009 |
| Appendix 3B | Mon, 29 Jun 2009 |
| Appendix 3B | Fri, 26 Jun 2009 |
| Company Update | Wed, 24 Jun 2009 |
| Trading Halt | Mon, 22 Jun 2009 |
| Change of Registered Office | Mon, 22 Jun 2009 |
| Galilee Basin Drilling Program (12/06/09) | Thu, 18 Jun 2009 |
| Update on Linc Energy`s Galilee Basin exploration program | Fri, 12 Jun 2009 |
| Appendix 3B | Mon, 25 May 2009 |
| Appendix 3B x 2 | Fri, 15 May 2009 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH PETER BOND, CHIEF EXECUTIVE OFFICER OF LINC ENERGY LIMITED (LNC)
“Significant Exploration Target Identified”
http://www.brr.com.au/event/48757
TUESDAY, JULY 29 2008, 01:45 PM.
BRR Hello and welcome to Boardroom Radio. Today, we speak with Mr. Peter Bond, chief executive officer of Linc Energy. Peter, thanks for joining us.
10 LNC Thanks, Cameron. It’s great to be here.
BRR Peter, it’s been a couple of years since we last spoke. Two years ago, you outlined it what a market would have considered a fairly ambitious plan to take a reasonably new technology to the market. Two years ago, the
15 company had a market capital around 820 million. Today, you sit there with a market capital around 1.3 billion. It’s been an extraordinary ride over the last couple of years. Can you take us through some of the milestones that you’ve achieved over the last two years?
LNC Thanks, Cam. Yeah, it has been an extraordinary ride and is continuing to be
20 one. We still got a few goals to kick and we’re still kicking them. One of the big things for me as CEO has been explaining and educating the market about the story of what is Linc Energy, the basic process of Underground Coal Gasification, and how that can unlock massive amounts of energy through a stream of coal through gasification and then subsequently through
25 gas to liquids turn that gas into high quality diesel and jet fuel. And that story, that breaking that down into a simple one-liner that, you know, we can take $1 coal and turn it into, you know, $140 diesel is now becoming a compelling message especially with the oil price (inaudible) (00:01:25)
30 BRR And, Peter, in the last two years, Linc has been busy building a sizeable demonstration plant. At what stage is the plant up to now and how close is it to full-blown testing in subsequent production?
LNC The gas to liquids demonstration plant which basically takes the gas that we produced from the Underground Coal Gasification and then turns that into
35 diesel, as mentioned earlier, that demonstration facility has been constructed. It is complete and we’re in commissioning mode with that now. As per recent announcement on the ASX I guess we’re down to literally the last couple of weeks of finalization of that before we can then move to creation of liquids, you know, over the coming week or two. So we are literally down to the last
40 three to four weeks of commissioning and getting to the end game of what we’ve been aiming for. So it’s very exciting period for Linc.
BRR And, Peter, over the last couple of months, Linc did announce a bid for SAPEX, a South Australian-based company with a large coal tenement? What was the rationale behind making the bid for SAPEX and where do you
45 see the value add for Linc?
LNC SAPEX and Linc have been involved together now for over a year where SAPEX and Linc did a MOU to work together on exploring a large part of SAPEX lease holdings for coal. The driver for Linc was that if you start to extrapolate that agreement and extrapolate the amount of potential that SAPEX has it just made sense that if we are going to aggressively unlock that value which is obviously Linc’s own that to aggressively do so is better done if SAPEX is under the one roof. And the business plan is driven by the one vision for the one outcome and by doing so unlocks value for both
5 shareholder groups in a better way and a much more aggressive way. Subsequently, that was the driver behind merging with SAPEX.
BRR And, Peter, as you said, this demonstration plant is completed with commissioning underway, what’s the plant’s post the demonstration plant
10 working will? How big is the demonstration plant at this stage? What are your intentions for a full-blown plant and what are the time lines for getting the full blown plant up and running?
LNC The completion of having liquids as I said in the next two or three weeks will be a huge milestone not just for Linc and its shareholders but for the country
15 in general because Linc would have then proven that we can take cheap strain coal, which Australia is blessed with an abundance of, and turning that into chip, you know, $28….that’s $0.18 diesel. So it’s the first step towards energy security by Linc Energy on behalf of the nation. Taking the next step is obviously an important part for Linc and the company and that will mean
20 basically completing the final engineering on the 20,000-barrel facility by the end of this year, early next year, and then starting to move forward to breaking ground on starting construction next year on the 20,000-barrel commercial facility. That’s going to take about two and a bit years of construction and then we’ll be out there making over 20,000 barrels a day,
25 which equates to up to 8 million barrels of high quality diesel and jet fuel, which is, you know, a huge achievement.
BRR It sure is, Peter. And, Peter, do you want to take the next stage of Linc’s development? It’s going to require a large amount of capital. What are some of the options available to Linc at this early stage in facilitating the next
30 phase?
LNC One of the key areas for Linc even though we’re quite strongly cashed up at the moment is that we will be looking at ways of raising our own cash without having to dilute current shareholders too much more. One of the avenues for that and growing value in the company in general is to start to liquidate some
35 of the key coal assets that we own and probably will not use within the business plan of Underground Coal Gasification to liquids. That means that we’ll be focusing on in particular the Emerald coking coal lease that we have in Queensland that is a key coking coal region in the (inaudible) (00:05:44) basin, which is drilling up very nicely to be a wonderful asset. The idea would
40 be that we’d probably look at (inaudible) (00:05:52) that asset late this year and that will raise a significant amount of funds towards the commercial Chinchilla plant.
BRR And, Peter, since we last spoke, you have added a fully experienced
45 chairman to the board, Mr. Brian Johnson. Brian’s been involved with a number of successful IPOs. Can you give us an idea please on a little bit about Brian’s background, what he brings to the table, and your plans for the board?
LNC Yeah, I’m very honored to be working with Brian. He’s a very experienced chairman who was the original founder and CEO of Mt Gibson Iron which has obviously gone on to bigger and better things which he was one of the key architects of and drivers behind. He was one of the key people in Portman.
5 He was one of the key guys in AustralCoal before its takeover and numerous other bodies. I think he’s been involved in something like ten public entities or more. So he’s a very experienced chairman and more importantly, he’s a very good entrepreneur with some great credentials which a company like Linc needs at a time when it’s growing and aggressively moving on the same path.
10 So it’s great to have someone like him with his experience at the head of the boardroom table.
BRR Peter, it’s been good chatting with you again and it’s been an amazing story and obviously a very successful ride for the shareholders of Linc Energy. You’ve done what many opponents might have thought was quite hard early
15 on, so congratulations on that. We look forward to catching up with you again soon.
LNC Thanks, Cameron, and thanks for having me on Boardroom Radio.
BRR It’s been Peter Bond, the chief executive of Linc Energy speaking to us on
20 Boardroom Radio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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