Past year: ▼ 83%(23.5c – 1.52 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
11 Mar 2015capital raising announcement● Neutral
Prospectus for the note rights issue: $10 notes, 10% interest, converting to 5,000 shares each at maturity 31 March 2017 (up to 6,667 if shares are below 0.2 cents). Offer closes 20 April 2015; the last share price was 0.40 cents.
11 Mar 2015capital raising announcement● Neutral
Lakes announces the non-renounceable rights issue of converting notes at $10 each, one per 10,000 shares, paying 10% interest. This is the cover announcement listing the lodged offer documents.
11 Mar 2015other● Neutral
Letter to shareholders outside Australia and New Zealand explaining they are excluded from the note rights issue. The offer is not underwritten and has no minimum raise. No action required.
20 Feb 2015half year report● Neutral
Half-year to 31 December 2014 shows a loss of $1,160,530, against $1,664,734 a year earlier. Only 9.5m of the 191.5m forfeited shares sold at auction, raising $28,500; 182m remain unsold. Victorian onshore ban continues to affect plans.
10 Feb 2015other● Neutral
Lakes encloses information booklets to be mailed to shareholders within the week. No content is described in the announcement text. Administrative.
9 Dec 2014security holder rights change● NeutralMajor
The 219,010 remaining converting notes convert into 1,095,050,000 new fully paid shares (5,000 each), bringing quoted shares to about 11.25 billion. This ends the 2012 note issue, which matured 30 November 2014.
9 Dec 2014other● Neutral
ASX removes the matured converting notes (LKOG) from quotation after close of trading today. Ordinary shares are unaffected.
24 Nov 2014other● Neutral
Chairman's address to the 2014 AGM is attached as a document, but the text provided contains no readable content from the address itself.
21 Nov 2014other● Neutral
ASX suspends Lakes' converting notes (LKOG) from quotation at close of trade, pending their 30 November 2014 maturity. Ordinary shares are unaffected.
20 Nov 2014admin correction● Neutral
Following ASX advice, the record date for the note interest payment and conversion moves to 28 November 2014. Payment and conversion remain 9 December 2014.
10 Nov 2014security holder rights change● Neutral
Letter to noteholders: final $0.50 per note interest is payable 9 December 2014 (originally scheduled), and notes maturing 30 November 2014 convert automatically to 5,000 shares each, up to 6,667 if the share price is below 0.2 cents.
5 Nov 2014other● Neutral
Confirms the auction of 191.5m forfeited partly paid shares, sold as fully paid, on 7 November 2014 with a reserve price of $0.003 per share. Count is provisional as holders can still redeem.
3 Nov 2014other● Neutral
No forfeited partly paid shares have been redeemed since 27 October. Administrative update.
27 Oct 2014other● Neutral
No forfeited partly paid shares have been redeemed since 20 October. Administrative update ahead of the planned share auction.
24 Oct 2014annual report▼ Bad
2014 annual report: chairman calls the year one of 'frustration and disappointment' as Victoria's onshore drilling ban stalls a planned conventional well. It notes the Dow and Simplot conditional gas contracts, the new Otway and Queensland permits, and Downer's replacement by Wightman.
21 Oct 2014asset acquisition disposition▲ GoodMajor
Lakes is awarded two new offshore Gippsland Basin permits, VIC/P43(V) and VIC/P44(V), for six years of exploration. No work program or cost is given in the text. It adds offshore acreage while onshore Victoria remains frozen.
20 Oct 2014other● Neutral
No forfeited partly paid shares have been redeemed since 15 October. Administrative update.
15 Oct 2014other● Neutral
131.5m partly paid shares are forfeited after the 30 September 2014 calls went unpaid. With the 60m already held, 191.5m shares will be auctioned as fully paid on 7 November 2014. Administrative, though it marks the end of the old partly paid share structure.
30 Sept 2014annual report● Neutral
Annual financial report for the year to 30 June 2014. The provided text covers directors and board changes only, with no financial figures visible. The Downer, Wightman and de Weijer changes are repeated.
29 Sept 2014asset acquisition disposition▲ Good
Bass Strait Oil says the sale of PEP167 and PEP175 to Lakes subsidiary Mirboo Ridge has received regulatory approval and Lakes has paid the balance. This completes the July deal. The release also covers Bass Strait's CEO re-engagement.
26 Aug 2014director officer appointment● Neutral
Matthew Stubbs resigns as alternate for William Stubbs and Armour CEO Robbert de Weijer is appointed in his place. De Weijer is already alternate for Nicholas Mather. Board-level administrative change.
4 Aug 2014director officer appointment● Neutral
Kyle Wightman, a Hancock Prospecting nominee, joins the board as non-executive director, replacing Alexander Downer. Hancock/Timeview were already a roughly 18.6% holder earlier, per earlier notes.
31 July 2014asset acquisition disposition▲ GoodMajor
Lakes says it is acquiring two Queensland permits, ATP 642P and ATP 662P, in the Cooper/Eromanga Basin. It says this reduces dependence on Victorian exploration. No price or interest is stated.
25 July 2014other● Neutral
Lakes says it has mailed shareholders an information booklet, also on its website. No content is given in the announcement. Administrative.
24 July 2014material agreement▲ GoodMajor
Lakes signs a second conditional 10-year letter of intent, to supply gas to Dow Chemical (Australia). As with Simplot, it depends on a formal agreement, Wombat commercialisation and the moratorium being lifted.
11 July 2014asset acquisition disposition▲ GoodMajor
Lakes agreed to acquire 100% of Otway Basin permits PEP 167 and PEP 175 from Bass Strait Oil Company, subject only to regulatory approval. No price was given, and Lakes said it could not move forward until the onshore drilling ban was lifted.
11 July 2014asset acquisition disposition● Neutral
Bass Strait Oil announces it is selling its Otway Basin permits PEP167 and PEP175 to Lakes for $300,000 cash, subject to regulatory approval. This is the counterparty's side of the Lakes acquisition announced the same day.
4 July 2014material agreement▲ GoodMajor
Lakes signs a conditional 10-year letter of intent to supply gas to food manufacturer Simplot, one of two planned foundation deals. It depends on a formal agreement, Wombat commercialisation and the lifting of the Victorian drilling moratorium, so it is not yet a firm sale.
10 June 2014security holder rights change● Neutral
Lakes issued 44.11m shares on early conversion of 8,822 notes, taking fully paid shares to about 10.144bn. About 219,010 notes remain quoted. A small further dilution following the December 2013 conversion.
5 June 2014director officer appointment● Neutral
Robbert de Weijer, CEO of Armour Energy, is appointed alternate director for Nicholas Mather, with no securities held. Armour is Lakes' partner in PEP 166 and PEP 169 and claims PRL 2 matching rights.
