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  1. hainholz
    2,924 Posts.
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    04/04/07
    00:37
    Post #: 2327374
    Lakes Oil N.L. ("LKO") advises that at 6:00 AM today the Hazelwood-1 well was at a depth of 988 metres and drilling ahead in 311 mm (12 1⁄4") hole.

    The Hazelwood-1 well is designed to test gas which has been observed in the Strzelecki Formation in previous wells drilled in the area and to test the Rintoul's Sandstone which is expected to be encountered above basement.

    Lakes Oil N.L. currently holds a 50% interest in the permit but is earning an additional 25% interest by 100% funding of the drilling of this well and the Boola Boola-1 well. AusAm Resources will then hold a 25% interest in the permit.

    LKO Price at posting: 0.0¢ Sentiment: Buy Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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