Marubeni COAL invests in Linc Energy

Marubeni Coal Pty Ltd. has invested US$5 million in Linc Energy Ltd. via an off-market placement of 7.3 million shares at 76 cents each for an implied 5.2% share. In June, Marubeni and Linc entered into a memorandum of understanding to explore further possible business opportunities using Lincs underground coal gasification process, which converts solid coal still in-situ into cost-effective synthesis gas. Linc CEO Peter Bond said “the purpose of the stronger memorandum of understanding between Linc and Marubeni reinforces the companies’ commitment to pursue the VINACOMIN (Vietnam National Coal-Mineral Group) Red River Delta joint venture proposal, as the first UCG operation after Linc Energy’s own Chinchilla project in Queensland, Australia. (October 9, 2007)