Interesting, over the past couple of days, have noticed an...

Interesting, over the past couple of days, have noticed an increasing trend in the number of buyers shifting their orders to higher prices. Presumably those thinking they will get their orders filled at .3c are thinking twice...and moving to .4c. Admittedly, it is a slow 'chess game' at the moment so patience in certainly required, but if you've got a few bob to buy a chunk of shares in this company, you're certain to make a substantial return in good time, imo.

The large director purchases over the past couple months clearly shows confidence abounds inside the company's four walls. Particularly in relation to the Wombat 4's upcoming drilling program, the new technology to be potentially employed, LKO's sound financial position etc. Actually, I think Katandra summed it up well...hope you didn't mind Katandra, I've reposted one of your excellent summaries below.

Katandra wrote on 23/02/09:

* Some Wombat drillings are appraisal, not pure exploration. With new technology and a better understanding of the area, LKO hope that these wells can become commercial. Management would hardly drill these again if they thought that there was not a reasonable chance of commercial outcomes.
* Wombat 4 is an exploration well. If successful, it would add greatly to the gas bearing potential of the area.
* Drilling is expected for 2009.

Add to these the following factors:
* Cash in hand was $7m not long ago.
* LKO have many faithful supportersd, especially in Victoria. (always helpful if needing cash)
*Rob Annells has kept LKO afloat for decades. In this environment, that makes me feel more secure with the investment.
* LKO is near a record low SP ever. Given the activity planned and LKO's ability to fund it, I reckon there is money to be made when the drilling action approaches/starts.
* As Pub Lunch Man noted on this thread
"Expected expenditure for next quarter $1,000,000- Wombat 4 drill IMO!" It looks like action is preparing soon...