Linc's Texas touchdown

Linc Energy says its Texas oil and gas filed is yielding results, adding to the stock's recent stellar share price rise.

Shares in Linc Energy climbed as much as 21% today, making the stock the best performer of the day on the S&P/ASX200 Index, after the company said drilling in the shallow waters of Galveston Bay, southeast of Houston, Texas, had yielded oil and gas.

In an ASX statement Linc says one well was producing 1000 barrels of oil equivalent a day and 3.6 million cubic feet of gas a day in the 2-3m waters of its Cedar Point field, first discovered in 1938 by Standard Oil Company of Texas.



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