Maybe I'm barking mad, but I found this very interesting in the LNC quarterly report. LNC has applied for PEL 606 (next to LNC's PEL 120). Both PEL 606 and PEL 120 are South East to NVG and LNC's Arckaringa Basin is to the North West.
Here are the LNC tenements...
Here are the NVG tenements..
LNC bought the SAPEX assets in 2008 before the shale boom for about $100m (from memory). They could buy NVG at 5c for only $10m.
LNC taking a position south of NVG adds to the value of the NVG tenements IMHO.
a lnc takeover target? lnc now south of nvg
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