Lakes Oil is on the rise as interest has been increasing today and it could be attributed to several things. LKO are expected to begin on the Trifon Tight Gas Project and are very confident this time round with the Trifon Well, having higher expectations of excellent results.
The other reason for the increasing sentiment in LKO could also be due to the recent news of Crude oil prices surged in Monday New York trading, with the West Texas Intermediate benchmark rising above the US$38 a barrel mark for the first time since mid-March.
Commentators attributed the surge in crude prices to market nervousness created by the murder of five foreign workers in Saudi Arabia over the weekend (all five, including one Australian, were employees of Swiss engineering company ABB Ltd).
Cheers..
*** on the rise ***
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