Linc Energy mulling sale of South Australian shale oil assets

It has already inked an MOU with a potential buyer.

Linc Energy has entered into a confidentiality, due diligence and exclusivity agreement with an Australian company in relation to the potential sale of its South Australian shale oil (SAPEX) assets, the company said in a statement ot the SGX.

Under the agreement, the potential buyer has thirty days of exclusivity starting November 11 to undertake due diligence on the Linc Energy’s SAPEX assets. 

The Australian company has already started due diligence in accordance with the agreement, but no formal negotiations regarding the sale of the SAPEX assets have been held.

The statement was issued in response to a trading query from the SGX