I've seen some Lance's advertised with Turbo and then there are some that
specifically advertise Turbo with Intercooler. Are these two seperate
options available or are they one in the same? The Lance I'm looking at
just says Turbo in the ad and doesn't mention any intercooler.

The intercooler is a aftermarket STC'd modification. Without it, the
airplane will not be able to maintain high power settings above about
16,000' without overheating.

An intercooler is a radiator that cools a gas (air) instead of a liquid.
When air is compressed (what a turbocharger does) it heats up. When a
gas is heated it wants to expand (return to an uncompressed state), so
you place an intercooler (or two) inline following the turbocharger and
before the engine air intake, to cool the heated, compressed air before
it enters the engine, providing cooler, more dense air to the engine.
Cooler dense air can absorb more heat than hotter dense air and provide
greater expansion and therefore more power.