For what it is worth, I'll be hanging on with LKO.Having an...

For what it is worth, I'll be hanging on with LKO.

Having an entry average of .004c and having sold around 25% of my holding to lock in significant profits (around 265%), I am happy to hold at present.

Currently we have LKO up on the good initial flow rates from Wombat 2 and the upgrades from prospects. Based on the current timetable, the initial flow rates from Wombat 3 should impact on the SP in a significant manner. Given the early reports, one would suggest that these are likely to be positive hence I am waiting for this as such good news would spike the SP.

In the short interum, the SP might drift slightly but will ultimately hover somewhere around the current level. While more will take profits, others will see the potential of the SP spike from news of Wombat 3 and get set.

Like any of these plays, one can never be sure of the flow rates over a longer period until the numbers are confirmed (although things look good at this point for Wombat 2). Still, the odds of a SP spike for Wombat 3 on initial/stabilised flow rates seems very high. Positive news on any oil would be a real bonus.

Happy to tread water for a little while until the Wombat 3 upgrade as i would not want to be out of LKO when the release hits the market. If it is released after hours (as was the case with Wombat 2), a cheap entry is very difficult!