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$1.00 lakes blue energy nl

Ann: Chair Address and AGM Presentation, page-5

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gaza08

1,053 Posts.

54

19/12/19

18:15

Post #: 42056911
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Originally posted by kuddles: ↑

gaza: As per report.
BPT and LKO were to put it into production in a $50million joint venture but BPT pulled out when the Vic government extended the moratorium to include all onshore activities. A National Party MP (cant' recall his name off hand but it was a public announcement) admitted that they extended the moratorium to pick up votes from greenies and farmers against onshore gas development but it backfired spectacularly and screwed LKO in the process.

Wombat Gas Field
•Significant gas resource already demonstrated.
•Wombat-5 well is ready for drilling.
Lateral well targeting conventional
potential of Strzelecki Formation.
10 TJ/day gas flow rate independently predicted
Government approval sought prior to ban
Well can be brought on line quickly
•East Coast gas market short of supply and prices high.
•Wombat development to be followed by Trifon-Gangell ramp-up to deliver 20 PJ/a for 20 years

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Thankyou kindly for the feedback Kuddles. I was a shareholder in 2010/11 and only became a shareholder again earlier this year so was unaware. Yes sounds like Lakes got screwed over big, so back to square one now and hope Nangwarry 1 well hits a jackpot!!!
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