LKO - Lakes Blue Energy

[nunthewiser]

FWIW.

I have re-entered LKO ... This is a pure technical punt on a penny dreadful that has known to be nothing more than a slush fund over the years ....

In my view it is due a break shortly ........... up or down is up to yourselves to decide.

Nice XT earlier .

No sheep stations involved and happy to drop at any given moment.

Position trade

 

[malachii]

Nun

Care to explain your reasoning behind your technical entry - or is it a "trade secret"?

malachii

 

[nunthewiser]

No secrets..

Based on MY interpretation of the weekly chart and MY percieved support and resistance areas coinciding with volumes.

My view and others views may not match up ... and thats cool.


nothing complicated about it ..... i am right or i am wrong and i lose a cupla bucks on stopping out which means im right anyway because i had already decided how much i was going to give away before i entered .

 

[malachii]

Thanks for that Nun - I'm always interested in what other people can see that I cant in the same chart.

malachii

 

[radioham6]

FWIW.

I have re-entered LKO ... This is a pure technical punt on a penny dreadful that has known to be nothing more than a slush fund over the years ....

In my view it is due a break shortly ........... up or down is up to yourselves to decide.

Nice XT earlier .

No sheep stations involved and happy to drop at any given moment.

Position trade

Yes a penny dreadful indeed! Couldn't agree more.

My patience has run out and can get better returns elsewhere....though I have known to be wrong in the past! DYOR

 

[Happy]

Nunthewiser,
I will probably envy you when LKO price rockets all of the sudden, but at the moment I rather see pressure down.

Also last couple of times price’s burst to life was after more than 2 years.
The latest decline did not last a year yet, so looks that there is another year before anything happens.

In a meantime there might be little burst to $0.010 and I would be more than happy to take part in it, but hate too much taking seats in a rocket while still on a way down.

 

[nunthewiser]

OK .............. .005 hit .... a major assault on volumes into this level and a quick dissapearance of the volume bids here will see me walk away and come back to fight another day on it ......right or wrong but this is MY area of concern and big vols smashing it will knock me out of THIS play

speccy slush fund position punt as previously pointed out ...no sheep stations, no fundamentals , no care factor on what they might or might not do.

 

[adamguerin]

I have had these shares for almost a year and am considering cutting my loses as well. Do people think that their move to pull out internationally has anything to do with shareholder confidence?

I may not be making sense, but then again, I'm a noob.

Do people think that there is as much to gain on-shore as LKO have stated?

Ads

 

[nunthewiser]

I have had these shares for almost a year and am considering cutting my loses as well. Do people think that their move to pull out internationally has anything to do with shareholder confidence?

I may not be making sense, but then again, I'm a noob.

Do people think that there is as much to gain on-shore as LKO have stated?

Ads

Please do NOT take anything i do as an indicator of shareholder confidence or a reason to consider your own trade ........

my stuff is a pure play , nothing more .....

All i have done is outline MY paremeters on this trade... they should mean bugga all for YOUR trade/hold

 

[RP_Automotive]

Lakes have come up with no solid results, no values on gas in place...no intention to go into production...in my opinion that means they're nothing but a slush fund. If any of their wells were really viable they would be doing a production test on them, the closest they have got is a couple of DST's which came up with hardly anything. There are no sustained flow rate figures, just a bunch of "we flowed this rate for x amount of time' which means nothing.

 

[nunthewiser]

Lakes have come up with no solid results, no values on gas in place...no intention to go into production...in my opinion that means they're nothing but a slush fund. If any of their wells were really viable they would be doing a production test on them, the closest they have got is a couple of DST's which came up with hardly anything. There are no sustained flow rate figures, just a bunch of "we flowed this rate for x amount of time' which means nothing.

LOL sounds like every other penny dreadful out there ...............Its all about the story and the hopes and dreams they produce.

Blessem

 

[adamguerin]

Please do NOT take anything i do as an indicator of shareholder confidence or a reason to consider your own trade ........

my stuff is a pure play , nothing more .....

All i have done is outline MY paremeters on this trade... they should mean bugga all for YOUR trade/hold

No worries Nun, totally understand. Just wondering if the change management attitude to stay local may have had an effect.

Definitely appreciate and respect all advice / feedback given on the forum.

Adam

 

[nunthewiser]

And LKO still slips by the radar on the rampometer..... slowly creeping ......... intresting vols from time to time.

Gotta love a slush fund

 

[DVEOUS]

Is there light at the end of the long dark LKO tunnel?

Ohhh for a crystal ball... as I would have topped up yesterday at 0.006.

The BPT farm in has seen a jump to 0.010 today, on larger-than-normal volume.

I have been waiting for the day to bail out of this penny dreadful at what I paid (0.011), but BPT would not throw $50million away on a slush fund, would they?

This IS encouraging.

 

[philly]

Well I guess this has to be a better way of progressing things than raising capital through a SPP. BPT is a proven explorer hopefully things will get a move along and long suffering holders will have something to smile about.

BEACH ENERGY TO SPEND UP TO $50M IN LKO’S
PETROLEUM LEASE (PRL2)
Beach Energy has had made an offer to Lakes Oil NL to acquire up to 50 per
cent of its onshore gas lease (PRL2) located near Sale, in the Gippsland Basin,
Victoria.
The board of Lakes Oil has accepted this offer which is now subject to due
diligence and approval of Beach’s board of directors.
The basis of the agreement is on a two stage entry:
Stage one
Beach will fund 100 per cent cost of flow and fracture tests in Wombat 4 and
Boundary Creek 2 wells which have been drilled and cased ready for re-entry
by Lakes Oil.
Beach can earn up to 15 per cent interest in PRL2 by expenditure of $10m in
stage one. Should the expenditure not reach $10m the amount earned by
Beach in PRL2 will be reduced pro-rata to the nearest percentage point.
Stage two
Any monies not spent in stage one can be carried over into stage two. Stage
two enables Beach at this point to increase its interest in PRL2 to a maximum
of 50 per cent by the expenditure of up to a further $40m, plus the balance of
stage one.
Again, in stage two, should expenditure not reach $40m, then the interest
earned will reduce proportionately to a lower level.
(The $50m commitment by Beach is based on matching LKO’s expenditure to
date in PRL2, estimated to be approximately $50m.)
Beach will become the operator of PRL2 subject to a yet to be arranged farm-in agreement.
“I am delighted to welcome Beach Energy into PRL2.” Lakes Oil’s Chairman Mr
Rob Annells said today.
“Beach have demonstrated successful entry in unconventional exploration in
Queensland and more recently in the Cooper Basin.” He said.
“They understand tight reservoirs and they are now one of the leaders in this new technology in Australia.
“Beach’s entry into PRL2 re-enforces Lakes’ confidence in the establishment of
this valuable onshore energy asset and we believe this will open a new chapter in the development of Victoria’s newestpetroleum resource.”

 

[pointr]

Don't get too excited just yet, there are a whole lot of long suffering BPT shareholders out there as well. Hope we all make money from these projects but I'm not holding my breath. We hold BPTand are in the red with it.

 

[TabJockey]

Does anyone know what in gods name is happening with this company?

No news from any of thier projects for 6 months is a very bad sign and the market has reacted accordingly. Seems like terrible administration, share price down to half a cent.

Anyone with any news? (or even rumours or conjection?)

 

[rensionurne]

LKO Lakes Oil

this is Great Lakes as in the Midwest. Minnesota, Wisconsin, Iowa, Illinois, etc. Its a bit far for us to make it to Buffalo.

 

[Albi]

A very positive announcement but needs green light from victorian goverment. Volume is up...................................

 

[nioka]

I've been in and out of LKO over the years but found they always were close to something but never there and needing capital to continue which diluted the shares almost out the back door. They should have possibilities as the area generally has produced a lot of oil. There would be a ready market for gas as sooner or later the electricity generation in Victoria must change away from the dirtiest coal fired generation around.

The announcement that Beach will fund the next stage has two things going for LKO. Beach have given LKO credit for the 50 odd million spent on the project to date by funding to the tune of $50m for a 50% interest, leaving LKO still with 50%. Secondly I assume that Beach know their business. I have today taken a small spec investment in LKO to the tune of 500,000 @ .7c. Into the bottom drawer for now but I will continue to watch LKO.