re:the company is looking to take a 28% stake in a Just found...

re:the company is looking to take a 28% stake in a Just found this on E-trade, LGO is looking to take a 28% stake in an unlisted Queensland oil company instead of 11%

Might see LGO move today, volume up on average, looking interesting

Longreach Oil Ltd's core activities are oil and gas exploration, and to a lesser extent gold, diamond and other mineral exploration. The company has interests in gold exploration in Victoria, is negotiating an oil exploration joint venture in Myanmar, and is engaging in diamond exploration in Russia, South Africa and Angola. The company is looking to take a 28% stake in an unlisted Queensland oil company that owns 50% of two leases in the Surat Basin.