LKO - Lakes Blue Energy

[BESBS Player]

Still a little time for patience here.
NewAnimal is right about the general market. Nonetheless, if we happen to get a few positive days on the market when LKO gets closer to the target zones, we might still get a little late money. This time next week will be interesting. Still holding...

Currently holding LKO at .004c
Currently Holding LKO at .006c

1st profit from BESBS (on Morey): 27% :

PS. great time to be getting set elsewhere in this market

 

[travwj]

Hasn't been the best hole, now at a depth of 2400m and have mechanical issue which should be fixed soon. As well as a revised depth of 2800m, so i guess we can assume that LKO have not hit the geological structure that they where expecting to hit.

Is there a well to be drilled after this with BTP as the financial backer?

good luck.

Trav

 

[BESBS Player]

Simply a game of patience now. BPT should work over Wombat this H2, 2012.
If the market holds up, one hopes to see a few SP spikes. At .004c, the leverege is good.

Happy to wait with orders in to purchase at .004c...

Disc:
Currently holding LKO at .004c
Currently Holding LKO at .006c

1st profit from BESBS (on Morey): 27%

 

[philly]

On Friday 24/8/12 LKO went into a trading halt pending a government announcement.

Then later in the day 'The Age' newspaper reported that...
Victoria has announced a ban on further coal seam gas exploration projects that have worried environmentalists, farmers and rural communities.
The ban on new licences and approvals to use fracking, which shoots high-pressure chemicals deep into the ground to release natural gas, will continue until completion of a national plan for coal seam gas mining.
Community groups across Australia have voiced concerns over fracking, citing potential risks to drinking water, the environment and food production.
Energy and Resources Minister Michael O'Brien said the state's moratorium will continue while scientific studies are undertaken and the national plan is finalised.

IMHO if fracking is outlawed then we can kiss good bye to the Wombat oil field.

Not happy

 

[BESBS Player]

Hi Philly,

I've been away for a few days due to a family bereavement hence my lack of comment here.
I hate to say it but the writing was on the wall a few days before this (and possibly 3-4 weeks ago in hindsight). I had an order in at .004c for nearly 4 weeks a while back thinking that LKO would spike on re-fracc confirmation with BPT but I pulled my order and sold off most of what I had as the delay in environmental approval dragged on (and LKO didn't seem to shed any light on it). I stuck these funds into FAR and OXX (see other posts on those threads) as BESBS plays. I'd been watching LKO for a spike (to signal upcoming re-fracc) and I suddenly noticed large sells going through at .004c a few days before the trading halt. After visiting Hotcopper and reading some interesting interpretations that bulk selling meant 'good news, and action about to occur????', I sold off the last few that I had. Nevertheless, I didn't expect this news but a delay from BPT.
Clearly word had leaked from somewhere that the ban was to be announced as the selling increased dramatically (as I said earlier) in the few days prior to the announcement.

As a positive, Philly, I wouldn't be surprised if this project is permitted to go ahead in a few months time (maybe with a new JV partner linked to Holdgate drilling???) At least LKO do have other permits that might create interest in 2013.

 

[philly]

Hi BESBS,
condolences on your family loss

 

[newanimal]

Hi Philly,



As a positive, Philly, I wouldn't be surprised if this project is permitted to go ahead in a few months time (maybe with a new JV partner linked to Holdgate drilling???) At least LKO do have other permits that might create interest in 2013.

LKO claims their operations pose no hazard to community concerns re water tables and I assume they'll have opportunity to prove their case and be permitted to go ahead. Hopefully your right about a few months time.

 

[BESBS Player]

Hi BESBS,
condolences on your family loss

Hi Philly,

Thankyou. My grandmother was 96 and still at home, so she had a great innings.

I do think (as Newanimal is mentioning) that LKO will get to develop Wombat in the next 12 months but my suspicion is that the JV partner will not be BPT. I have no evidence/proff for this comment, just a gut-feeling. While BPT were busy elsewhere, they didn't seem to be in a hurry to test Wombat.

If LKO do get the go ahead, this will rise very quickly.

 

[Jockie Bear]

Sorry to hear of your loss BESB, but as you said 96 is a good innings; the way Lakes oil prices are going I'll be lucky to make 66! I don't know if you are aware of the current goings on with them but there seems to be some sort of "converting notes" scheme on offer. I have read all the literature they have made available but can't understand any of it. First I would like to request your "personal view" on the offer (many on this forum respect not only your views but also the other respected views generated by your input). Secondly, what in layman terms does it entail? If my understanding is correct do they want money from you for the notes and after two years more money to convert them to shares?
Thank you very much for your input to this forum.
Best wishes, Jockie Bear.

 

[Jockie Bear]

I had a word with a mate who sort of explained what this is all about; so I think that I have it sussed. I also decided to take a punt on the notes just like the captain on the Titanic, I'll go down with the ship eh! I've got a load of shares with RIO which have made a packet for me and if anything goes wrong I can always claim a capital loss against my tax bill this year.
Best wishes, Jockie Bear.

 

[newanimal]

I confess i dont fully grasp what this "issuance of notes" and all means in regards to todays announcement, but the market sure seems to like it. Finally some movement and a break up into .005 with some wopping volume.

 

[ROE]

I confess i dont fully grasp what this "issuance of notes" and all means in regards to todays announcement, but the market sure seems to like it. Finally some movement and a break up into .005 with some wopping volume.

It usually mean she lend them cash with the options to convert to shares at a later date...
so she has nothing to lose unless the company goes belly up...typical Warren Buffett play if you got heap of cash
and people willing to do deals...

if shares price too low she doesnt need to convert to share.....they still own her the cash and pay interest...if share price high she convert them...

 

[Family_Guy]

I confess i dont fully grasp what this "issuance of notes" and all means in regards to todays announcement, but the market sure seems to like it. Finally some movement and a break up into .005 with some wopping volume.

Yep, Happy to see that annonce today and decided to top up on a share ive held for.......god knows how long. Penny stock that has some ok drill results, when i saw her company was involved i wasn't going to miss the boat. Good luck for those that hold.

 

[BESBS Player]

Great to see the latest run for LKO.

It appears to me to be inspired by 4 main factors:

1. With NSW appearing to be becoming more open to fraccing, there is a hope that the Vic Liberals might ease their current ban and allow a 'case by case' review. This would potentially open the Wombat project up and increase the chances of a commercial project.
2. Gina has brought $$$$$ to the table, and is seen as a reputable large company.
3. Alex Downer provides lobbying access and power to the Liberals (hence the issue of fraccing)
4. With Gina, Armour and Beach all in the wings, suddenly LKO looks to have more clout than a typical penny-dreadful.

I am not in LKO. I'm sticking to my BESBS strategy. That said, it is great to see many longer-term and medium holders getting some capital back/profits. It is also a great sign for the junior explorers in general...punters are now becoming more prepared to take a punt in this sector.

All the best to holders.

 

[Camel Spotter]

Thanks BESBS. I'm a long term holder, and could have done well if I'd sold/bought over the last two rise and falls. This time it does look more promising though. Is anybody be game enough to take a guess where the price might go if Lakes started producing?

 

[BESBS Player]

Hi CS,

Way too early to know.

Depends upon wider market conditions.

That said, LKO need to get Vic government approval to fracc AND how are they going to fund it since it appears that BPT have dropped out of the JV. This needs to be established before one can work these out IMHO...

 

[skivvy]

Big spike in volume on this stock today and touched its 52 week high, always gets me thinking when I see this happen. have had this one on my watch list for a while, and hold a small parcel in them. Any ideas from the holders?

 

[System]

On February 26th, 2021, Lakes Oil NL changed its name to Lakes Blue Energy NL.

 

[Dona Ferentes]

On February 26th, 2021, Lakes Oil NL changed its name to Lakes Blue Energy NL.

and the Chairman said:

Lakes Oil, which will soon be Lakes Blue Energy, was established in 1946 with a focus on the Lakes Entrance region. Since that time we do not believe the Company has ever experienced impacts as damaging as those in Victoria since 2012. Being taken over by Woodside in 1959, delisted and then relisted in 1985 were nothing in comparison.

The proposed change of name is deliberate as is the timing of it. Both Lakes and the industry stand at the crossroads of a new more complicated and uncertain energy future. We are aware of these complexities and uncertainties and believe that Lakes need to achieve three things to survive and prosper for another 50 years.

1. Within 3 years achieve commercial gas production and I refer shareholders to our presentation later today and our presentation of 16 September 2020 for the detail of this;

2. Leverage the returns from the above to a.) Fund Company operations, including a much-needed management team; b.) Develop the other existing assets in the Company’s portfolio; and c.) Diversify by being at the front of identifying and promoting viable new technologies for sustainable energy supply.

3. Generate attractive returns for Shareholders.

Step 3 - or c.): Participating in Diversification
• To remain relevant, Lakes MUST be part of the solution.
• While gas will continue to play an important role, both as a fuel and as feedstock, sustainable energy solutions have yet to be identified, commercialised and utilised.
• Lakes will:
o Search for compelling opportunities: fuel cells? hydrogen? energy storage?
o Build new and strengthen existing corporate relationships.
o Leverage project returns to secure early involvement in promising initiatives.
o Strive to be a key participant in a transition to a sustainable energy future.

 

[IrishDigger]

LKO Report - A good read, especially the parts I understood.

RaaS Research

RaaS provides research reports to many private and public companies and distributes them to our network of fund managers and private equity.

www.raasgroup.com