PEP169 and J/V will IMO be next catalyst for our share price rise back over 20c very soon
refer to this announcement
Armour Energy is Lakes Oil’s largest shareholder holding approximately 19.9% of the issued share capital, which together with converting notes also held by Armour Energy (as well as those held by other parties) amounts to a fully diluted ownership interest of approximately 18.9%. Armour Energy has also earned 51% ownership, and is Operator of, PEP169 and 25% ownership of PEP166 in Victoria, also held by Lakes Oil. As previously announced, Armour Energy and Lakes Oil intend to drill the vertical exploration well Otway 1 in PEP169 in the first half of 2014 for which land access has been secured and planning and approvals processes are well advanced.
AJQ Price at posting:
19.5¢ Sentiment: LT Buy Disclosure: Held
