LKO - Lakes Blue Energy

[nunthewiser]

Lol, Putty ........ i hold and still think they are nothing but a slush fund.

No deramping intended , just merely pointing out the obvious from over the years of trading them.

Blessem

 

[Putty7]

Lol, Putty ........ i hold and still think they are nothing but a slush fund.

No deramping intended , just merely pointing out the obvious from over the years of trading them.

Blessem

I liked you comment in the EGO thread that slush funds can make money to lol, I think you hit the nail squarely on the head. You just have to change your thinking to suit that of the one making the biggest gains

 

[Camel Spotter]

I hope this question is permitted here.

How long do people think the price support for Lakes will be at 1c?

Hopes of easy oil or gas from Wombat 4 appear to have evaporated and the announcement of extremely encouraging results did nothing for the SP.

How realistic is the prospect of commercial quantities of gas from fracturing?

 

[Putty7]

I hope this question is permitted here.

How long do people think the price support for Lakes will be at 1c?

Hopes of easy oil or gas from Wombat 4 appear to have evaporated and the announcement of extremely encouraging results did nothing for the SP.

How realistic is the prospect of commercial quantities of gas from fracturing?

I don't think anything has evaporated, they have found gas and there is enough being released to hold the SP steady for the time being so it seems, I can only assume that for Robert Annells to give comment with a vague announcement he would not be keen to have egg on his face prior to an AGM, when they add volumes to Wombat 4 and possibly news on 2 and 3, then you will know if the SP can hold up or not.

 

[Camel Spotter]

I don't think anything has evaporated, they have found gas and there is enough being released to hold the SP steady for the time being so it seems, I can only assume that for Robert Annells to give comment with a vague announcement he would not be keen to have egg on his face prior to an AGM, when they add volumes to Wombat 4 and possibly news on 2 and 3, then you will know if the SP can hold up or not.

Thanks Putty. I have held LKO for a few years but have a lot to learn. I will have to be more patient!

I am currently holding 4.4 million (at an average of 0.9c).

 

[Putty7]

I have a lot to learn myself and it doesn't make me right, just my opinions lol, reading back through the thread is often a good way to see how others have viewed the share over the years, it gives you some perspective of market sentiment from actual traders and you can match this up with tech analysis or whatever systems you use.

 

[andione1983]

Just trying to get my head around the latest news statements from Lakes...

LAKES OIL N.L.
WOMBAT 4; FURTHER HYDROCARBON SHOWS - oil and
gas present in Strzelecki Group
Further testing continues in Strzelecki and Latrobe
Group reservoirs.
Lakes Oil N.L. announces that its Wombat 4 well, onshore Gippsland Basin, has
reached a total depth of 2500metres and is currently evaluating and testing
selected intervals for both oil and gas.
Over the next few days, the Company will continue to evaluate the drilled
sections with drill stem tests (DSTs) in the Strzelecki and Latrobe Groups based
on encouraging results following electric logging and coring that were completed
over the past week.
Hydrocarbons (gas and liquids) identified in Latrobe and Strzelecki Group
Targets:
As stated last week, since entering the Strzelecki Group at a depth of 1350 m,
drilling has encountered numerous interesting gas shows, with several shows
containing up to C5 readings. Positive identification of liquid hydrocarbons from
electric logs, DST#1 analysis and core data indicates that both oil and
condensate are also present in the Strzelecki Group.
Several intervals within the Strzelecki Group tight reservoir targets have been
selected for DST testing, which may flow gas to surface. However, tight gas does
not always flow without fracturing the reservoir. Tight gas targets will be selected
for future fracture stimulation following advice from our US consultants.
Before running casing in the Strzelecki Group, a DST or several DSTs will also
be carried out in the Latrobe Group conventional reservoir target where light oil
or condensate appears to have been encountered.
We believe the results so far encountered are extremely encouraging; the
hydrocarbon compositions are significantly different from other Wombat wells and
the Latrobe Group reservoirs appear to be hydrocarbon bearing at this location.
These results have opened up a range of new possibilities for hydrocarbon
potential in the western portion of the Wombat structure.


i did some research on the term "Hydrocarbons" in Wiki..

Usage

Hydrocarbons are one of the Earth's most important energy resources. The predominant use of hydrocarbons is as a combustible fuel source. In their solid form, hydrocarbons take the form of asphalt [13]

Mixtures of volatile hydrocarbons are now used in preference to the chlorofluorocarbons as a propellant for aerosol sprays, due to chlorofluorocarbon's impact on the ozone layer.

Methane [1C] and ethane [2C] are gaseous at ambient temperatures and cannot be readily liquified by pressure alone. Propane [3C] is however easily liquified, and exists in 'propane bottles' mostly as a liquid. Butane [4C] is so easily liquified that it provides a safe, volatile fuel for small pocket lighters. Pentane [5C] is a clear liquid at room temperature, commonly used in chemistry and industry as a powerful nearly odorless solvent of waxes and high molecular weight organic compounds, including greases. Hexane [6C] is also a widely used non-polar, non-aromatic solvent, as well as a significant fraction of common gasoline.

The [6C] through [10C] alkanes, alkenes and isomeric cycloalkanes are the top components of gasoline, naptha, jet fuel and specialized industrial solvent mixtures. With the progressive addition of carbon units, the simple non-ring structured hydrocarbons have higher viscosities, lubricating indices, boiling points, solidification temperatures, and deeper color. At the opposite extreme from [1C] methane lie the heavy tars that remain as the lowest fraction in a crude oil refining retort. They are collected and widely utilized as roofing compounds, pavement composition, wood preservatives (the creosote series) and as extremely high viscosity sheer-resisting liquids.


so i am quite curious as to why the SP is dropping, as its still quite good news. IMO they just have to find the pockets and get the hydrocarbons out?

 

[TabJockey]

It sounds like they havnt found enough for it to be profitable yet! They should just keep thier mouths shut untill they have flow figures. Who knows which way it was going to go, the people who got in at 8c today will probably do okay though.

 

[prawn_86]

Why is it that people in this thread can't quote the correct price. It is not 8c it is either .008 or .8c, that is to say eight tenths of a cent.

Please be more accurate in the future.

 

[nunthewiser]

Has taken more freebies OFF the table at LKO . i still hold a minor parcel but not liking the volumes and games of the last 2 days ............ thinks maybe the "good ole boys" may have something we dont............could be wrong and happy to buy a parcel if proven wrong ........ still got a
couple of freebies left that may buy me a lapdance or 2 tho

 

[DVEOUS]

Like I said about LKO last time, investors are obviously running out of patience with Lakes Oil.
This was more than evident on Monday, with the SP falling, on what was generally positive news.

I'd hate to see where the SP lands on bad news!

Holding (and praying) at $ 0.011!

 

[Putty7]

Bought a very small parcel of LKO today at .009c, might regret it down the track but with the AGM tomorrow maybe there will be some good news, time will tell.

 

[Camel Spotter]

I am interested in what the wise heads here think about the Lakes AGM report today.

I notice the price didn't move up but then again it didn't fall on what has been a poor day.

 

[Jez]

I notice the price didn't move up but then again it didn't fall on what has been a poor day.

Can't comment on AGM, but what happens with the relative price shows us how much a speculative stock it is! When there are huge gains in the general market, LKO will not go up either.

Now you should be able to work it out.

 

[philly]

Last report to ASX was on 30-11-09 regarding Wombat-4. But I thought they were fraccing Wombat-2 at the same time. There has been no news about this. How long can this take? Does anyone know what if anything is happening? No wonder patience is a virtue you need it with LKO

 

[Atlas79]

Last report to ASX was on 30-11-09 regarding Wombat-4. But I thought they were fraccing Wombat-2 at the same time. There has been no news about this. How long can this take? Does anyone know what if anything is happening? No wonder patience is a virtue you need it with LKO

I had a look at their website, saw talk of being "adventurous" and the word "a*se" in big letters is one of the first things I saw. This alone made me... shall we say hesitant... to plunge everything I own into this company. Or even $100. But, all the best to you holders!

 

[TabJockey]

Investors assume that if LKO had good news, they would release it, as there are no releases, things must be bleak. Waiting until details are "sure" is a good way to let people in the know get out of the stock at .9 or even .8c. Not sure what it will drop to if its revealed that wombat 4 and 2 are unprofitable black holes of wasted money. God knows whats going on down there.

 

[philly]

Maybe everyone at LKO has gone on holidays and that explains why there hasn't been any news regarding Wombat 2 & 4. Its been 3 weeks since the last ASX announcement and some news before Christmas would be welcome. I mean what happened to the duty to keep the market informed? I can't find anything on www. Does anyone know anything?

 

[Jez]

Its been 3 weeks since the last ASX announcement and some news before Christmas would be welcome.

That news a few weeks ago was probably some attempted market agitation to get some extra Christmas spending money for the board members!

Seriously, the whole situation with LKO is laughable!

 

[fishyfallow]

I see the company has made an announcement concerning it's various operations today 18/1.

Can someone with mining knowledge advise if this contains any more
beneficial/or negative information from previous company press releases

Many thanks

Not a current shareholder . Taken profits to date but may reenter market