LKO Litigation Update, page-2

First 2 Last

Share
Profile

Follow
Bagholding789

2,836 Posts.

3

13/03/18

16:52

Post #: 31722217
Share
Originally posted by db_nolan ↑

ASX Announcement
Litigation Update

The Board of Directors of Lakes Oil NL (Lakes Oil or Company, ASX: LKO) advises that hearing of the Company’s legal proceedings against the Victorian Government (Government) will commence tomorrow, 14 March 2018, in the Supreme Court of Victoria. It is anticipated the proceedings will take no more than 3 days, following which the decision of Justice Macaulay will be awaited.

The focus of the legal proceedings is to consider the Company’s contentions:

that the variations made by the Minister’s delegate to the Company’s authorities in December 2017 were illegal; and

that the Victorian Petroleum Act, as it was amended in March 2017, specifically provides that exploration commitments under existing petroleum tenements are excluded from the Government’s exploration moratorium.
Accordingly, the Company will argue that Government cannot refuse to grant approvals for performance by Lakes Oil of its explicit commitments on the grounds that these commitments are prohibited by the moratorium.

Mr Chris Tonkin, Chairman of Lakes Oil, said “Lakes Oil looks forward to having this matter finalised so the Company can quickly resume exploration activity and, on the basis of independent expert advice, prove up reserves of gas that can be very quickly brought on line to help ease the gas and electricity price burdens presently plaguing Victorian industry and households.”

Expand

Sorry mate, on phone and can't open it, what's the current holding DHR have in LKO? Many thx
DHR Price at posting: 1.9¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

AGI

Ainsworth locks in Aristocrat patent deal for $8.5m

KNI

Kuniko extends Commonwealth-Silica Hill with positive drilling in lead-up to MRE

CMO

Cosmo Metals confirms broad mineralised zone at the Kanowna Gold Project in WA

CMM

Capricorn Metals makes strategic acquisition of Piastri project in WA

Market Open: ASX tipped to continue to remain in the red

HotCopper Highlights: DroneShield, tungsten and lithium stocks dominate this week’s investor chatter

EQU

Equus Energy inks 10-year gas sales agreement with Alcoa in WA

WCN

White Cliff Minerals transitioning Danvers discovery into continuous copper system

Dale Gillham: Are Australian Property Prices Crashing or Just Softening?

AM5

Antares Metals hits copper mineralisation at depth at Conglomerate Creek in Queensland

First 2 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

LKO Litigation Update, page-2

Top Stories

Ainsworth locks in Aristocrat patent deal for $8.5m

Kuniko extends Commonwealth-Silica Hill with positive drilling in lead-up to MRE

Cosmo Metals confirms broad mineralised zone at the Kanowna Gold Project in WA

Capricorn Metals makes strategic acquisition of Piastri project in WA

Market Open: ASX tipped to continue to remain in the red

HotCopper Highlights: DroneShield, tungsten and lithium stocks dominate this week’s investor chatter

Equus Energy inks 10-year gas sales agreement with Alcoa in WA

White Cliff Minerals transitioning Danvers discovery into continuous copper system

Dale Gillham: Are Australian Property Prices Crashing or Just Softening?

Antares Metals hits copper mineralisation at depth at Conglomerate Creek in Queensland

Featured News