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Linc on the verge of "material" raising

27th March 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – The shares of diversified energy company Linc Energy went on a trading halt on Wednesday, with the company saying it was undertaking a “material” capital raising.

The trading halt would remain in place until April 2.

At the start of this year, Linc announced that it had tripled its oil production, in less than 12 months, to produce some 6 307 bbl/d of oil. The company was currently undertaking a drilling campaign in the Gulf Coast, with six active rigs operating for new wells and recompletions.

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