I follow LKO closely because on paper they are interesting but in my opinion they are well overvalued based on their poor success and technical capability. It's a huge stretch to value LKO at $40million!! Fortunately for LKO they trade at the minimum trading price and have a gazillion shares on the register.
The timelines they have released are deluded and show they do not understand how to navigate the Victorian petroleum regulations. It will take at least 18 months to receive approval to drill any Victorian well and commercialisation will take at least 3 years.
LKO Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
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