Typical with any resource development program, the Government requires the relinquishment of acreage outside of the intended development area. As part of its licence commitments LCK is currently reviewing areas of no interest inside PEL 650 to relinquish later in 2019. LCK has exceeded its work and expenditure program requirement and any relinquishment required by the Regulator will not be material and impact on the LCEP. There are large areas within PEL 650 that do not have resources of interest and the relinquishment of this part property will not reduce or impact on LCK’s intended operations or confirmed 2P reserves.
very good news.
Ann: Quarterly Activities Report and Appendix 5B, page-9
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