Linc Energy Ltd. ADR (LNCGY)

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17 March 2014

23H WELL IN UMIAT ALASKA REACHES TARGET DEPTH

? The 23H well being drilled at the Umiat field in Alaska has progressed on prognosis
reaching total depth at 4100 feet measured depth
? Currently running the liner
? Ryder Scott estimate Proved & Probable (“2P”) reserves of 154.5 million barrels of oil
equivalent (“MMboe”), with a 2P NPV10% of US$2.465 billion, and Proved, Probable &
Possible (“3P”) reserves of 194 MMboe, with a 3P NPV10% of US$2.845 billion.*
Linc Energy Ltd (SGX:TI6) is pleased to announce that drilling of the 23H well at the Company’s
Umiat oil field (“Umiat”) located in Alaska has now reached total depth for the well at a measured
depth of 4100 feet.
The well is running the slotted liner.
The flow test will utilize an open-hole configuration using slotted liner with no cementing or
perforations required. This completion methodology closely mimics past successful flow tests at
Umiat.
Linc Energy’s Umiat oil field consists of 19,358 gross acres over three leases and is located in
the western foothills/foldbelt province of the North Slope Foothills of Alaska.
Peter Bond, CEO and Managing Director of Linc Energy, said: “We are delighted to have
reached TD and look forward to a successful flow test in the coming weeks.”


*The reserve estimates used in this statement were compiled by independent consultants, the Ryder Scott Company,
L.P., in accordance with the definitions and guidelines set out in the 2007 Petroleum Resource Management System
by Scott J. Wilson (Senior Vice President of Ryder Scott Company LP) who has consented to the form and context in
which the reserve estimates appear.

The initial public offering of the Company was sponsored by DBS Bank Ltd., Credit Suisse (Singapore
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