Linc Energy finds evidence of oil in Australia's Arckaringa Basin
Singapore
LINC Energy has found evidence of oil in the Arckaringa Basin in southern Australia with its first exploration well, in what the firm sees as a big step forward in its plans.
The firm has sent the cutting samples for laboratory tests in Brisbane, and expects the first results to be out in six to eight weeks. It will also run more tests to further define the prospectivity of the Stuart Range Formation, which was the first of three formations targeted with this exploration well.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results