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LKO - Lakes Blue Energy

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SeanLacey

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LKO's "new gas field" claim

LKO's announcement today of further postive gas flow results seems most encouraging. Quote:
"We believe we have discovered a new gas field in a strategically important area of Victoria. The
significance of this find will not be known until we have drilled more wells and carried out extensive
testing."
This stock seems nice and cheap to me - with probable short to medium term potential for a strong run once a final announcement is made. Well positioned as far as infrastructure is concerned as well - so no problems getting the gas to market. What do investors think of this one?
 
Here's their chart.

Looks to me like it's about to start another period of consolidation, where the price might drift down for a while. After that, who knows. It could jump up again.

This is of course just an observation, and should not be taken as any sort of recommendation.

Cheers,
GP
 

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bonking wisdom

Gasfield over 2klms area + 50m zone common ....... wombats will be everywhere soon. This is good for RPM as well, maybe 500,000 dollars+ in royalties annually..............??
 
Any thoughts on lakes oil ? second day of above average vol and 10% plus price
increase.Directors topped up to the tune of 7 mil shares on 17/11/06.
I know its a penny dreadfull,but couldn't resist 100k @ 0.020.
kennas what do your charts say? if you have a moment.
Cheers from Xmas beer fund !
 
Hmmmmmmm..... 17million shares traded in the first half hour of the day and then..... Oh Fancy that.... an announcement comes out !!!!!!

Anyway... this share is due for a rise soon (chart history)...
 
LKO up 27% to 0.014 at midday with vol at 150M+ on announcement of drilling at alberton
more buyers than sellers than previous days
sp has been hovering around 0.01/011 since end of June 07 down 0.02 sp seen in early months of 2007.
I hold and hope
 
Teddy Bear said:
LKO
I hold and hope
Click to expand...

I once held but gave up hope a long time ago. That was when the price was a lot better than it has been for some time. I still have them on my watch list but only to see if their interest in " hot rocks" goes anywhere.
 
if you look at their chart history, they are due for a spike... and going by the interest yesterday and today (ann) we could be ready to go...

IMO - DYOR

any chart Guru's out there want to add anything?? please
 
Has anyone got any info on this one? The SP has been slowly ticking down with the general bear market.
 
Trader52 said:
Has anyone got any info on this one? The SP has been slowly ticking down with the general bear market.
Click to expand...
I put it in the VPE category.Going nowhere and no intention to.Well at least that was my view on them a couple of years ago.
 
a lot of interest today.... now sure why. maybe no one was taking up their 5 cent offer so they had to make the stock look more attractive.. IMO.

DYOR.
 
Yes definetely one to keep a watch, a high risk/high rewards type of spec.

Lots of numbers and somewhat beginning to take-off?!

As I said, high risk high reward speccy
 
There has been some movement in the last 2 days LKO has moved around 80M in shares each day upto .009 from .006 and had a price query from asx.
 
Trading Halt Request
Lakes Oil N.L. (ASX Code: LKO) wishes to request a trading halt in relation to the potential
acquisition of an offshore petroleum asset close to its current Wombat field.
Lakes Oil requests the trading halt remain in place until it is in a position to announce details
about the acquisition, which will occur no later than 10am on Thursday 24 July 2008.
Lakes Oil is not aware of any reason why the trading halt should not be granted.

Yours sincerely
LAKES OIL N.L
Raymond E South
 

Dear Sir
Voluntary Suspension Request
Further to its trading halt announcement on Tuesday 22 July, Lakes Oil N.L. (“LKO”) wishes to
request a voluntary suspension of trading in its shares.
Lakes Oil requests the voluntary suspension remain in place until it is in a position to announce
details about the matter the subject of its earlier announcement, which is expected to occur no
later than 10am on Tuesday 29 July.
Lakes Oil is not aware of any reason why the voluntary suspension should not be granted.
Yours sincerely
LAKES OIL N.L
 
As the market seems to be bouncing around the bottom, I've had a look around for potential long term BESBS plays and decided that LKO is worth a look. Been accumlating these at .004c.

1. It is the longest surviving oil explorer in Australia. Sure it has squillions of shares but they are generally owned by the same holders - they just keep buying more at each SPP. Rob Annells manages to keep them going through thick & thin.

2. They are now talking of drilling a follow-up Wombat drilling to the tight gas find some years back. According to management, they claim that independent experts have valued the potential of Wombat at $16m. When this new drilling finally occurs, every dog and Victorian will be on board as their equivalent to a Melbourne Cup bet.

3. LKO have some history of getting good volumes and SP spikes when drilling action occurs. Given Wombat's previous history, it should spark some action.

4. LKO has over $7m in the bank!

5. The SP of LKO has never been this low in its history. At 0.004c, every move is 25% gain.

This could be a 12 month or longer hold. No guarantees in this market...
 
Heard from the AGM that there might be some drilling action in H1 2009. DYOR. I hold this one and see a handy profit some time in 2009
 
Interesting to see that volumes have started to increase a bit this week. LKO will always be exposed to the quick trade (ie. buy at .004c and sell for .005c) but this will disappear quickly when action finally occurs.

From what I hear, LKO are planning to re-test the old Wombat drillings (appraisal) and then drill a new Wombat exploration well - all hopefully H1 next year. Now management know they are looking at tight gas, better equipment and relevant expertise is hoping to get earlier gas discovery to commercial level. The new exploration well is a bonus.

Very much a speecie but I'm happily accumulating LKO with a 2009 outlook
 
Interesting comment you make there.. Where are you getting your information from if you don't mind me asking?
 
Hi Muzzza,

Like all posts here, nothing can be absolutely guaranteed. That said, my source is in the industry and has links to both the former drill at Wombat and upcoming activity with LKO. Can't say more on a public forum and have deliberately kept details vague in the post above. I'm still buying LKO and as the activity in not likely until H1 2009, one could argue that it is in my interest to simply shut up, minimise buyers and buy more at the moment with less competition. Just thought that some punters might like the info. for what it is worth... I am looking forward to action in 2009.

Sorry I can't be more specific Muzzza but hope that helps.

Cheers.
 
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