Linc Energy Terminates ERG Resources Asset Acquisition
July 19 2011 - 7:24PM
Dow Jones News
Linc Energy Ltd. (LNC.AU) on Wednesday said it terminated a
US$236 million deal to buy oil fields in Texas and Louisiana from
ERG Resources LLC.
Linc said it has exercised a contractual right to terminate the
transaction after "notifying ERG of certain alleged title defects
identified during due diligence".
The Brisbane-based group said it intends to pursue other
acquisitions in the U.S.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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