12 reasons why ive invested in ajq, page-41

Recap on LKO in Victoria and Gina Rinehart and AJQ interest up around 20% each- what is going on - guess we will find out in the new year- must be something in the ground that has massive value - hold AJQ now and we will all be rewarded once we get some gas commercialized and Farm in agreements - current price is "cheap as chips mate"

" Extension of the ban does not prevent Lakes Oil from going ahead with some operations, given the company also conducts some conventional oil and gas work in Victoria.

http://www.smh.com.au/business/mining-and-resources/gina-rinehart-cements-lakes-oil-stake-20131122-2y0bl.html

Mining billionaire Gina Rinehart has consolidated her status as the biggest shareholder in a small Victorian oil and gas company, just 24 hours after Victoria extended a ban on the sort of unconventional oil and gas it plans to extract.

Ms Rinehart moved this morning to convert a note that one of her subsidiaries - Timeview Enterprises - purchased in January, into $3.5 million worth of shares in ASX listed Lakes Oil.

The transaction delivers to Ms Rinehart a 19.53 per cent stake in the small company, whose shares were fetching 0.5 cents this morning.

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Lakes Oil boss Robert Annells welcomed Ms Rinehart's transaction.

‘‘We are absolutely delighted she has converted to equity, it demonstrates her faith in what we are doing," he said.

Lakes shares were fetching about 0.4 cents when Ms Rinehart's company purchased the convertible notes in January.

The stock had traded as high as 0.7 cents earlier this month, as investors speculated the Victorian Government would relax its ban on unconventional oil and gas.

Those hopes were partly fuelled by a bullish speech delivered by Victorian resources minister Nick Kotsiras on October 30.

But Lakes shares have drifted lower in recent days, and today's decision to convert may be prompted by a desire to cash in before the stock drifts lower on the back of the ban extension.

The notes did not need to be converted into shares until November 30, 2014, but could be converted earlier at the discretion of the holder.

Ms Rinehart's team could not be reached for comment so far today.