The administrators of Linc Energy Ltd are seeking expressions of interest for investing in the company or acquiring its assets following its entry into administration. Key assets include: - Petroleum exploration licenses in the Arckaringa Basin covering 14.2 million acres, with estimated unconventional oil resources of 257 billion barrels. Drilling programs have proven an active petroleum system. - Underground coal gasification technology and intellectual property, with commercial contracts and joint ventures. The technology enables access to uneconomic coal reserves. - Other assets include a listed shell on the Singapore stock exchange and Queensland coal tenements. Parties have the option to acquire all rights and interests in Linc Energy and its assets.

1. Linc Energy Ltd is a SGX-listed global oil and gas company with interests in
Australian and global projects and world leading coal-to-liquids technology.
Opportunity overview
The Administrators of Linc Energy Ltd (Administrators appointed) (SGX:BRE) (Linc Energy) have commenced a process
exploring all options in relation to Linc Energy and its assets. The Administrators are seeking expressions of interest from
parties looking to invest in Linc Energy. All transaction options are being considered, including a recapitalisation, a whole of
company transaction and/or individual asset sales (including the SGX-listed shell) either directly or through a deed of
company arrangement.
Investment highlights
SAPEX
Significant prospective estimates
Live oil samples and proof of an active
petroleum system
Seismic and drilling exploration programs
totalling ~A$58m since 2008
UCG
Enables access to uneconomic, ‘stranded’ coal
and eliminates the need for mining coal and
processing it through surface gasification plant
Capable of providing long-term regional energy
supply
17 applications and published patents and 16
registered trademarks

Ongoing commercial contracts with potential to
renegotiate or assign
SAPEX
Asset overview
 Petroleum exploration licences covering ~14.2mm
contiguous acres and representing 100% of the known
prospective areas in the Arckaringa Basin
 Independent consultant estimate:
o unrisked prospective unconventional resources of
257 BnBBLs of oil
o risked unconventional prospective resources of 19
BnBBLs of oil.
 Live oil samples and proof of an active petroleum
system in the Arckaringa Basin proved through
Maglia-1
 Unconventional source rock potential of the basin
proved through oil fluorescence within the Stuart Range
and Boorthanna Formation at the Pata 1 locations
 Exploration rights exceed 7 years in prospective areas
 SAPEX Limited (previously ASX-listed) was acquired by
Linc Energy in 2008 for ~A$102m. Since 2008 SAPEX
Limited has conducted capital programs comprising of
seismic and drilling exploration programs totalling
~A$58m.
SAPEX reserve estimates
Formation
Unrisked
(BnBBLs)
Risked
(BnBBLs)
Stuart Range 28 3
Boorthanna 22 2
Pre-Permian 207 15
Total 257 19
Gustavon Associates estimates, December 1, 2015
Tenure location
SAPEX tenements – Arckaringa basin, South Australia
LINC ENERGY LTD
(Administrators appointed)

2. Underground Coal Gasification (UCG)
Asset overview
UCG is the process of gasifying coal in-situ, that is, where it
lies underground to produce UCG syngas, which includes
hydrogen (H2), carbon monoxide (CO) and methane (CH4)
and other gases.
UCG enables access to uneconomic, ‘stranded’ coal and
eliminates the need for mining coal and processing it
through surface gasification plant, minimising surface
footprint and environmental impact.
UCG is capable of providing long-term regional energy
supply through downstream production of gas, power, and
liquid fuels.
Parties have the option to acquire all rights and intellectual
property in relation to UCG.
UCG visual representation - https://vimeo.com/63128822
UCG and associated practices are currently subject to review by the
Queensland Government and may be the subject of legislative reforms.
Track record
Operated five UCG gasifiers evolving from the
conventional technology using linked vertical
wells to its commercial “breakthrough”
technology
Commercial contracts and joint ventures,
which may be assignable or renegotiated,
with:
 Exxaro Resources in South Africa
 Sugico in Indonesia
Developed its proprietary UCG technology
using horizontally directionally drilled wells,
which offer compelling advantages
Demonstrated precise gasification control and
oxygen blown mode of operations to produce
high quality syngas
17 applications and published patents and 16
registered trademarks
Other assets and options
 SGX-listed shell
 Whole of group transaction or recapitalisation
 Queensland coal tenements.
Process overview
Stephen Longley, Grant Sparks and Martin Ford of PPB Advisory were appointed Administrators of Linc Energy on
15 April 2016 (the Administrators).
The Administrators are seeking Indicative Offers by Wednesday, 11 May 2016 for the recapitalisation or sale of the
business and/or assets of Linc Energy. You are invited to execute the attached Confidentiality Agreement as soon as
possible, following which select parties will receive further information on the administration/sale process and timeline.
All parties will be required to acknowledge having made their own investigations and enquiries, and having taken legal
advice in respect of the business and assets including all relevant legislation and other requirements.
Primary contact Other contacts
Jack Pell
Assistant Manager
Level 21, 181 William Street
Melbourne VIC 2000, Australia
t: +61 3 9269 4139
e: jpell@ppbadvisory.com
Stephen Edds
Director
Level 7, 8-12 Chifley Square
Sydney NSW 2000 Australia
t: +61 2 8116 3183
e: sedds@ppbadvisory.com
Ben Campbell
Director
Level 27, 345 Queen Street
Brisbane QLD 4000
t: +61 7 3222 6869
e: bcampbell@ppbadvisory.com
DISCLAIMER
This document is provided for information only and has not been prepared with the intention that the recipient should rely on it. The Administrators, PPB Advisory and Linc
Energy do not make any representation in relation to the contents of this document or give any assurances as to the accuracy or the degree of care or diligence used in
preparing this document. This document does not constitute an offer, recommendation or invitation to any person. To the maximum extent permitted by law, none of the
Administrators, PPB Advisory, Linc Energy or their respective affiliates, directors, agents or employees accept any liability (including any liability for negligence) for any loss
arising from the use of this document or from the information it contains. The terms of this document are confidential. The recipient of this document must not copy or forward
this document to any third party and must promptly return it to PPB Advisory if the Administrators or PPB Advisory require the recipient to do so.