Linc Energy Shares Up 31% on Shale Oil Estimate

Reuters reported that the shares in Australia’s Linc Energy soared a day after it announced that two independent reports confirmed that its wholly owned Arckaringa Basin could potentially hold anywhere between 103 billion and 233 billion barrels of shale oil.

As quoted in the market news:

Linc’s shares soared to a high of A$2.83 on Thursday and last traded up 27 percent at A$2.74, valuing the company at A$1.4 billion.

Click here to read the full Reuters report.