Eff me! Is LKO being royally screwed over in an unprecedented government conspiracy?
Unprecedented legislative ban on onshore drilling.
Victorian Department of Economic Development, Jobs, Transport and Resources changed the published status of the Company’s Wombat and Trifon gas wells to either “other” or “plugged and abandoned” without consulting LKO
the status of its Petroleum Retention Licence (PRL) 3 has been recently changed on the Geovic website with its status changed to expired
the Australian Taxation Office (ATO) has alleged that the Company did not take reasonable care when claiming the Research and Development tax incentive and has indicated an intention to apply a 25% penalty ($255,285.33)
They appear to be attacked from all angles Nothing would make me happier than to see these guys succeed. But they are certainly up against it.
Of note - I find this very interesting: The Victorian Government’s unprecedented and unsubstantiated ban on all onshore petroleum exploration activity remains in place. The ban is legislatively scheduled to expire at mid-2020, following which conventional exploration activity should again be allowed to proceed.
Would almost be worth quietly waiting until mid 2020 to proceed. Either way - I still hold hope, or faith.. maybe faith is a better comparison... GLTA - me included
LKO Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
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