LKO - Lakes Blue Energy
- Thread starter SeanLacey
- Start date
Can anyone tell me were i can find information regarding further announcment dates from lko?
Congrats on a great day!
purchased @.005
Hey Mickyj
I haven't seen anything about future announcements, my only suggestion would be to ring them. (email post)?
I have heard they are pretty friendly to talk to and try and help where they can.
Off there website:
If you would like to know more about Lakes Oil N.L., please contact:
Lakes Oil N.L.
Level 11, 500 Collins Street
Melbourne Vic 3000
Postal
Po Box 300
Collins Street West
Melbourne Vic 8007
Phone
(+ 61 3) 9620 7299
Fax
(+ 61 3) 9629 1624
lakes@lakesoil.com.au
Website
www.lakesoil.com.au
- Joined
- 7 February 2007
- Posts
- 314
- Reactions
- 3
Gday all this bit of press is woth a read for all LOK followers
http://sale.yourguide.com.au/news/local/news/general/lakes-oil-confident-of-flows/1550944.aspx
Cool hey :band Party time my call on LKO
Cheers
http://sale.yourguide.com.au/news/local/news/general/lakes-oil-confident-of-flows/1550944.aspx
Cool hey :band Party time my call on LKO
Cheers
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Nice to see that LKO is holding up well and was another .002c up when I last checked a few minutes ago. We might see a little profit-taking for the end of the week as traders get set for beer-o-clock but the bulk of the money will stay.
While we now wait for the Wombat 2 statistics to be confirmed over a longer test period, we have the very appetising Wombat 3 figures approaching. The article below (thanks to Scully) gives a little insight into the excitement:
From Gippsland Times
Lakes Oil confident of flows
AN exploration company drilling for gas and oil in Seaspray has found significant onshore oil flows.
Lakes Oil will be conducting exploratory drilling work at three sites in Seaspray in coming weeks.
For the last few weeks Lakes Oil has been working at a site known as Wombat 3, where Strzelecki oil has been flowing from a natural fracture that was previously hydraulically fracture stimulated.
Since the discovery oil is continuing to flow freely into the well bore along with gas and fracing fluid.
Lakes Oil executive chairman Rob Annells said the discovery was geologically significant, as Lakes Oil believes it to be the first nonbiodegraded oil flow recorded anywhere in the onshore or offshore Gippsland Basin.
"We are delighted with the results from Wombat 3, which has produced the first free flowing oil onshore in the Gippsland Basin from the Strzelecki Group,'' Mr Annells said.
He said operations at Wombat 3 had now been suspended pending the arrival of production equipment.
"At this stage, it has been difficult to measure the fluid inflow from the lower zone as gas and water from the upper zone at 1420m is flowing into the well bore at a higher rate and therefore impeding the oil flow from the lower zone,'' Mr Annells said.
"Our plan is now to run a production tubing string into Wombat 3 down to the oil zone which will enable us to more accurately assess the flow rate that can be achieved from the lower zone.
"We expect the flow rate to improve as the oil will not be impeded by the water flow from above. The reduced diameter of the production pipe will also assist in increasing the flow.''
Meanwhile work is beginning at a site known as North Seaspray 3.
Lakes Oil will begin the removal of fracture fluid that was left in the well when it was originally hydraulically fractured in 2005 and hope it will yield an unimpeded gas flow from the area of interest.
Fracing work is also about to begin at another site called Wombat 2.
"By achieving commercial flows from the wells we will have opened up a valuable new Victorian energy resource,'' Mr Annells said.
"Moreover, the gas contains 98 per cent methane and virtually no carbon dioxide, unlike other gas being used in Victoria.''
Go LKO.
Holding LKO at .004c
While we now wait for the Wombat 2 statistics to be confirmed over a longer test period, we have the very appetising Wombat 3 figures approaching. The article below (thanks to Scully) gives a little insight into the excitement:
From Gippsland Times
Lakes Oil confident of flows
AN exploration company drilling for gas and oil in Seaspray has found significant onshore oil flows.
Lakes Oil will be conducting exploratory drilling work at three sites in Seaspray in coming weeks.
For the last few weeks Lakes Oil has been working at a site known as Wombat 3, where Strzelecki oil has been flowing from a natural fracture that was previously hydraulically fracture stimulated.
Since the discovery oil is continuing to flow freely into the well bore along with gas and fracing fluid.
Lakes Oil executive chairman Rob Annells said the discovery was geologically significant, as Lakes Oil believes it to be the first nonbiodegraded oil flow recorded anywhere in the onshore or offshore Gippsland Basin.
"We are delighted with the results from Wombat 3, which has produced the first free flowing oil onshore in the Gippsland Basin from the Strzelecki Group,'' Mr Annells said.
He said operations at Wombat 3 had now been suspended pending the arrival of production equipment.
"At this stage, it has been difficult to measure the fluid inflow from the lower zone as gas and water from the upper zone at 1420m is flowing into the well bore at a higher rate and therefore impeding the oil flow from the lower zone,'' Mr Annells said.
"Our plan is now to run a production tubing string into Wombat 3 down to the oil zone which will enable us to more accurately assess the flow rate that can be achieved from the lower zone.
"We expect the flow rate to improve as the oil will not be impeded by the water flow from above. The reduced diameter of the production pipe will also assist in increasing the flow.''
Meanwhile work is beginning at a site known as North Seaspray 3.
Lakes Oil will begin the removal of fracture fluid that was left in the well when it was originally hydraulically fractured in 2005 and hope it will yield an unimpeded gas flow from the area of interest.
Fracing work is also about to begin at another site called Wombat 2.
"By achieving commercial flows from the wells we will have opened up a valuable new Victorian energy resource,'' Mr Annells said.
"Moreover, the gas contains 98 per cent methane and virtually no carbon dioxide, unlike other gas being used in Victoria.''
Go LKO.
Holding LKO at .004c
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
LKO closed at a new high of 1.6c today, all I can say is wow! Today was such a negative red day and yet LKO contines to go from strength to strength
- Joined
- 28 August 2007
- Posts
- 82
- Reactions
- 0
I too am surprised, I thought they would pull back to 1.3 or 1.4c in the last 10 mins...they did a couple of times and I watched them close @ 1.5c...Lucky I checked here cos I wouldn't have know they actually went to 1.6c!
Absolutely massive volume too: 347,010,390
Holding @ 0.5c....good luck to all!
Absolutely massive volume too: 347,010,390
Holding @ 0.5c....good luck to all!
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
Great to see LKO hold up so well today, as YT says, given the general negative market conditions. As I see it, it might retrace very slightly or hover until the next news release. When Wombat 3 news comes in, a good result will put a rocket under this. Any good news on the oil front would be an even bigger bonus. I can see 2.5c being easily made if the initial results for Wombat 3 are good. If results from Wombat 2 and 3 are then sustained over a longer test period, it would be woooshka...
In keeping with my usual discipline, I have sold 20% to lock in profits (265% profit). I'll be keeping the rest until Wombat 3's initial rates come in and then assess things from there.
Have a great weekend LKOers!
Holding LKO at .004c
In keeping with my usual discipline, I have sold 20% to lock in profits (265% profit). I'll be keeping the rest until Wombat 3's initial rates come in and then assess things from there.
Have a great weekend LKOers!
Holding LKO at .004c
Great to see LKO hold up so well today, as YT says, given the general negative market conditions. As I see it, it might retrace very slightly or hover until the next news release. When Wombat 3 news comes in, a good result will put a rocket under this. Any good news on the oil front would be an even bigger bonus. I can see 2.5c being easily made if the initial results for Wombat 3 are good. If results from Wombat 2 and 3 are then sustained over a longer test period, it would be woooshka...
In keeping with my usual discipline, I have sold 20% to lock in profits (265% profit). I'll be keeping the rest until Wombat 3's initial rates come in and then assess things from there.
Have a great weekend LKOers!
Holding LKO at .004c
wow LKO held up pretty well so far today.
do u know when the wombat 3 result are likely to be released? i dont mean a specific date, more like are we talking weekly, several weeks, months?
i want to know because im interested in this stock, except i have to ration my capital
As a long term holder of LKO I suggest you carefully examine the risk you are prepared to take with your "rationed"capital.
LKO is still very much a spec stock. We have been at this stage a few times in the past. Usually an SPP after a spike on some news but never in the past followed up with the really good news. There has been a lot of spin put on a very small oil "flow". Maybe it will be commercial, maybe not. They have a good story to tell. I'll wait for the proof. I'll be happy if is good enough for me to break even. I'll be very happy if it gushes.
After all they are one of the oldest oilers in Australia and their SP is still measured in fractions of a cent. There may be big gains but there is big risk.DYOR.
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
Having missed the high of LKO of 1.7c yesterday I sold a few more today as part of a overall capital preservation/profit protection strategy
I think TSV's drop is hurting LKO as they are comparable plays
I think TSV's drop is hurting LKO as they are comparable plays
- Joined
- 23 September 2008
- Posts
- 531
- Reactions
- 0
After careful consideration, I have sold LKO late this week. While I fully understand many traders wishing to hang tight until results are known, I am a conservative player (hence the BESBS philosophy as I hate not making money on a deal) and have moved for the following reasons:
a. Wombat 2 always had a high probability of successful initial flow rates as we already knew that gas existed! This news caused a spike of approx. .006c when it occurred. Easy money
Now the following exists IMHO:
b. Wombat 3 has gas and oil (so should also spike the SP as Wombat 2's initial flow rates did.) However, the presence of c. oil might well mean that extra/new equipment is required to flow test this. If so, it would take a few weeks (minimum) to get it to the site. This means no results for several weeks.
c. Seaspray (another play that should spike the SP on initial flow rates) will be tested using the same equipment used for Wombat 2. As this will only commence after Wombat 2 (as they shall use the same equipment), LKO management will have the extended flow rates for Wombat 2 PRIOR to Seaspray or Wombat 3 initial flow rates.
Put simply, if my summary is correct (and time will tell), the next result shall be the much higher risk/high reward Wombat 2 extended flow rates. In order to protect capital and profits, I have exited LKO for the interum until Wombat 2 extended flow rates are released to the market.
If Wombat 2 is a winner, well done to those who held through the risk. I will most likely jump on board again (in a smaller play) to ride the lower risk initial flow rate announcements from Seaspray and Wombat 3. If Wombat 2 disappoints or runs into technical difficulties, I have protected capital and have a much cheaper entry point later on.
Apologies to all if this sounds a boring approach but I do believe that it is a way of protecting capital, securing an already great profit, and allowing one to return for an extra crack at some cream on the cake while removing much of the higher risk associated with the potential higher reward of Wombat 2's extended flow result.
Best of luck to all holders.
Bought in to LKO at .004c. Sold out at ave. 1.5c. Profit after expenses c. 270%
a. Wombat 2 always had a high probability of successful initial flow rates as we already knew that gas existed! This news caused a spike of approx. .006c when it occurred. Easy money
Now the following exists IMHO:
b. Wombat 3 has gas and oil (so should also spike the SP as Wombat 2's initial flow rates did.) However, the presence of c. oil might well mean that extra/new equipment is required to flow test this. If so, it would take a few weeks (minimum) to get it to the site. This means no results for several weeks.
c. Seaspray (another play that should spike the SP on initial flow rates) will be tested using the same equipment used for Wombat 2. As this will only commence after Wombat 2 (as they shall use the same equipment), LKO management will have the extended flow rates for Wombat 2 PRIOR to Seaspray or Wombat 3 initial flow rates.
Put simply, if my summary is correct (and time will tell), the next result shall be the much higher risk/high reward Wombat 2 extended flow rates. In order to protect capital and profits, I have exited LKO for the interum until Wombat 2 extended flow rates are released to the market.
If Wombat 2 is a winner, well done to those who held through the risk. I will most likely jump on board again (in a smaller play) to ride the lower risk initial flow rate announcements from Seaspray and Wombat 3. If Wombat 2 disappoints or runs into technical difficulties, I have protected capital and have a much cheaper entry point later on.
Apologies to all if this sounds a boring approach but I do believe that it is a way of protecting capital, securing an already great profit, and allowing one to return for an extra crack at some cream on the cake while removing much of the higher risk associated with the potential higher reward of Wombat 2's extended flow result.
Best of luck to all holders.
Bought in to LKO at .004c. Sold out at ave. 1.5c. Profit after expenses c. 270%
- Joined
- 18 February 2006
- Posts
- 4,200
- Reactions
- 2
BESBS I too today have done the same
Having been in for a few months now and watch the stock appreciate 300% its hard not to lock in profits and really I have just become a bit impatient
Though I have already found somewhere to park my profits
Having been in for a few months now and watch the stock appreciate 300% its hard not to lock in profits and really I have just become a bit impatient
Though I have already found somewhere to park my profits
After careful consideration, I have sold LKO late this week. While I fully understand many traders wishing to hang tight until results are known, I am a conservative player (hence the BESBS philosophy as I hate not making money on a deal) and have moved for the following reasons:
a. Wombat 2 always had a high probability of successful initial flow rates as we already knew that gas existed! This news caused a spike of approx. .006c when it occurred. Easy money
Now the following exists IMHO:
b. Wombat 3 has gas and oil (so should also spike the SP as Wombat 2's initial flow rates did.) However, the presence of c. oil might well mean that extra/new equipment is required to flow test this. If so, it would take a few weeks (minimum) to get it to the site. This means no results for several weeks.
c. Seaspray (another play that should spike the SP on initial flow rates) will be tested using the same equipment used for Wombat 2. As this will only commence after Wombat 2 (as they shall use the same equipment), LKO management will have the extended flow rates for Wombat 2 PRIOR to Seaspray or Wombat 3 initial flow rates.
Put simply, if my summary is correct (and time will tell), the next result shall be the much higher risk/high reward Wombat 2 extended flow rates. In order to protect capital and profits, I have exited LKO for the interum until Wombat 2 extended flow rates are released to the market.
If Wombat 2 is a winner, well done to those who held through the risk. I will most likely jump on board again (in a smaller play) to ride the lower risk initial flow rate announcements from Seaspray and Wombat 3. If Wombat 2 disappoints or runs into technical difficulties, I have protected capital and have a much cheaper entry point later on.
Apologies to all if this sounds a boring approach but I do believe that it is a way of protecting capital, securing an already great profit, and allowing one to return for an extra crack at some cream on the cake while removing much of the higher risk associated with the potential higher reward of Wombat 2's extended flow result.
Best of luck to all holders.
Bought in to LKO at .004c. Sold out at ave. 1.5c. Profit after expenses c. 270%
- Joined
- 5 July 2009
- Posts
- 1
- Reactions
- 0
AHHHHH!
I bought these shares a couple of weeks back and was then buoyed by the enthusiasm of the believers contributing to this thread but it seems that my faith (and infinite greed) may have been misplaced. Both the believers and the share price are in retreat. I can see that I'm going to be left holding the (rather empty) LKO bag. Someone please steel my resolve to hold these shares! Please! Please! Please!
I bought these shares a couple of weeks back and was then buoyed by the enthusiasm of the believers contributing to this thread but it seems that my faith (and infinite greed) may have been misplaced. Both the believers and the share price are in retreat. I can see that I'm going to be left holding the (rather empty) LKO bag. Someone please steel my resolve to hold these shares! Please! Please! Please!
lakes oil rights issue announced - 1 new share for every four held at issue price of 1c - record date 24/07/09, to raise approx $11M
cheers
does that mean if we buy before 24th of july we have the option to purchase these bonus issues? is there any reason to do so? market price sitting at 1.1 - 1.2 cents currently, even if i get in at 1.1 cents would market revalue it down to 1 cent?
- Joined
- 18 July 2009
- Posts
- 6
- Reactions
- 0
You would need to buy soon to be on the register by the 24th. Need to check with your broker how long the settlement period is.
I will be taking up my entitlement & am hoping LKO will continue to rise on further news releases.
I will be taking up my entitlement & am hoping LKO will continue to rise on further news releases.
settlement is 3 days
which means today is pretty much last chance for me
but there are so many buyers at 1.1 cents and ironically there isnt much movement.
do they send u a letter after the 24th? cause i heard about other companies using bpay and it sounds a bit risky with no documentation
also, this is just from prior observation. but if i buy today at 1.1 or 1.2 cents and then take up the entitlement on the 24th. wouldnt there be alot of on market selling of people trying to make an arbitrage. and the price will eventually get knocked down to 1 cent eventually anyway and there is no need to take up the entitlement when u can buy on market.
which means today is pretty much last chance for me
but there are so many buyers at 1.1 cents and ironically there isnt much movement.
do they send u a letter after the 24th? cause i heard about other companies using bpay and it sounds a bit risky with no documentation
also, this is just from prior observation. but if i buy today at 1.1 or 1.2 cents and then take up the entitlement on the 24th. wouldnt there be alot of on market selling of people trying to make an arbitrage. and the price will eventually get knocked down to 1 cent eventually anyway and there is no need to take up the entitlement when u can buy on market.
- Joined
- 27 February 2008
- Posts
- 4,670
- Reactions
- 10
2nd attempt .
YOU CANNOT BUY TODAY AND RECIEVE THE ENTITLEMENT . READ THE BLEEDING ANNOUNCEMENTS! IT ALREADY WENT EX ENTITLEMENT YESTERDAY THE 20TH JULY ..MEANING U HAD TO BE IN IT ON FRIDAY
no offense intended but geez read the bloody announcements or get another bloody job !
hi joe
YOU CANNOT BUY TODAY AND RECIEVE THE ENTITLEMENT . READ THE BLEEDING ANNOUNCEMENTS! IT ALREADY WENT EX ENTITLEMENT YESTERDAY THE 20TH JULY ..MEANING U HAD TO BE IN IT ON FRIDAY
no offense intended but geez read the bloody announcements or get another bloody job !
hi joe
