I hope Beach is the mystery buyer of PEP169.
This is an onshore prospect called North Enterprise in the Otway Basin.
From LKO ASX announcement:
The Directors of Lakes Blue Energy NL (Lakes, or the Company; ASX:LKO) advise that work toward finalising the proposed farmout to Cooper Energy Limited of an interest in Petroleum Exploration Permit 169 (PEP 169), as originally announced on 23 October 2023, has been discontinued.
The Company has recently received two separate, unsolicited offers that relate to PEP 169. While the new offers are presently commercial in confidence, it is immediately apparent that they are materially superior to the arrangement that was previously proposed. Accordingly, in the interests of shareholders the Company is now evaluating the new offers with a view to selecting and entering into a new arrangement as soon as possible.
Further updates will be provided when possible.
Beach Energy Limited, page-555
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