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As you would know Acorn, PEP 170 and 172 did belong to Lakes (LKO). ICN have proposed a very ambitious program for these leases to the Vic Government and was awarded these areas on that basis.

There is no doubt that a massive tight gas field exists in these leases as well as Lakes remaining property.

Beach was poised to frac this tight gas in Lakes Wombat field on the eve of the Victorian Government's moratorium announcement.

Talk about being snuffed out at the last minute!

I am sure that the deep tight gas release from rock will be permitted when the moratorium is lifted, but fear for the future of Coal Seam Gas.