Linc Energy and GCL finalize joint venture in China

Linc Energy Ltd. announced that the proposed joint venture agreement with China’s GCL Projects Limited (“GCL”), a subsidiary of Golden Concord Group Limited, for the commercialization of Underground Coal Gasification (“UCG”) to Gas-to-Liquids (“GTL”) in China is pushing through. Linc Energy said that the “Technical Due Diligence” had been completed and both companies are completing the last few legal documentation requirements. Both companies have agreed that the large coal area within Inner Mongolia, which is owned by GCL, would be the site for the plant that will be constructed as soon as the documentation process is complete. Linc Energy is a global, diversified energy company headquartered in Brisbane, Australia. (June 29, 2012)