Progress in Linc Energy S-Africa coal-gas deal

RECENTLY listed Linc Energy is making headway in its first commercial underground coal gasification project (UCG) in sub-Saharan Africa.

The Australian upstream oil and gas firm has received A$20 million (S$22.45 million) from coal producer Exxaro Resources under an agreement both signed last year to develop a commercial UCG project jointly.

This second tranche payment by Exxaro also signals that certain precedent conditions had been fulfilled, though behind the original target date of end-August last year.