Linc's unconventional story

Linc Energy shares have taken off again, this time on the discovery of oil soaked rocks in Alaska

Linc Energy (LNC) chief Peter Bond certainly talks a good story.

The Australian company with global ambitions and a vast array of projects in conventional and experimental energy developments has been one of the best performers on the ASX during the past few days.

It rose 7.1% this morning to $1.66 on the news that it had discovered oil soaked rocks in Alaska. That followed a more than 9% jump yesterday after it revalued its Gulf Coast oil assets.

In January, the company hit the headlines and the ASX screens over a shale oil discovery in South Australia's Arkaringa Basin that "could fuel Australia''.

The tabloids breathlessly reported the find could contain upwards of "100 billion barrels of oil worth an estimated $20 trillion".

Not surprisingly, Linc's share price soared, punching through $2.80. Since then, however, despite reports that it had hired Barclays to track down a partner big enough to fund further exploration and development, there has been little news on the project.

Among its unconventional energy projects, Linc is involved in developing Underground Coal Gasification which, it is at pains to point out, is not coal seam gas.

Loved by speculators, Linc has grown into a top 200 company although it has yet to deliver when it comes to earnings (see Brendon Lau's Three small caps morphing into market leaders). Its only profit since 2009 was in 2011 when it reported a $296.45 million profit.

Last year, it notched up a $63.81 million loss which followed on from a $61.89 million deficit the previous year.