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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