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LAKES BLUE ENERGY NL (LKO)

Click here for free access to this company's:
ASX, Legal & CGT Status

Former (or subsequent) names

 FROMTO
LAKES BLUE ENERGY NL26/03/2021
LAKES OIL NL03/10/199426/03/2021
LAKES OIL LIMITED03/10/1994

Shareholder links

 

REGISTRY:

Computershare Melbourne
Yarra Falls, 452 Johnston Street, Abbotsford VIC 3067
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000LKO0
Address: 24-26 Kent Street Millers Point NSW 2000
Tel:  (03) 9629 1566Fax: (03) 9629 1624

Date first listed: 05/12/1985
Company Secretary: Elissa Hansen
Sector: Energy Industry Group: XEJ
Activities: Oil and gas exploration and investment

News & Events

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The company releases a notice of application for quotation of securities.

20/03/2024

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

30/01/2024

The Company has agreed with Acuity Capital to extend the expiry date of its At-the-Market Subscription Agreement to 31 January 2027. The Company has to date not raised any capital through its ATM.

29/01/2024

The company releases a cleansing notice for the issued 206,363,016 fully paid ordinary shares to Directors pre-consolidation in consideration for directors' fees as approved by Shareholders at the Annual General Meeting.

13/12/2023

The company releases a notice of application for quotation of securities.

13/12/2023

Following Shareholder approval at the Annual General Meeting held 30 November 2023, the consolidation of the Company's issued capital on the basis of every one thousand fully paid ordinary share into one (1) Share is now complete. Post consolidation, Lakes now has 58,637,575 Shares on issue (including the 206,363,016 Shares issued to Directors prior to consolidation, as approved by Shareholders at the Annual General Meeting). In accordance with the terms of the resolution approved at the Annual General Meeting, where the consolidation resulted in a fraction of a Share being held, the Company round those fractions to the nearest whole number with a 0.5 of a share rounded up.

07/12/2023

99,999,000 fully paid ordinary are due to be released from voluntary escrow on 13 December 2023.

04/12/2023

The company releases its Shareholder Presentation.

01/12/2023

The company releases the results of its meeting.

30/11/2023

Lakes has received a further Injection of funds through payment by Armour of outstanding invoices and is now funded through to 2025. Preparations for drilling of the Enterprise North-1 well, operated by Lakes' subsidiary Mirboo Ridge, are continuing uninterrupted. ASX requirements for resumption of trading of LKO shares will be addressed as soon as they are provided.

24/11/2023

The appointment of an Administrator to Armour Energy Limited and its subsidiaries will have no overall impact upon Lakes Blue Energy, nor on operations of Petroleum Exploration Permit 169, including the proposed Enterprise North-1 well. Action will be taken in accordance with remedies set out in the PEP 169 Joint Operating Agreement for recovery or offset of funds owed to Lakes' subsidiary for PEP 169 operations carried out.

13/11/2023

The company releases a notice of consolidation. Shareholders get 1 share for every 1,000 presently owned.

30/10/2023

The company's AGM will be held at 11.00am (AEDT) on Thursday, 30th November 2023 at Piper Alderman Level 23, Governor Macquarie Tower 1 Farrer Place Sydney NSW 2000.

30/10/2023

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

30/10/2023

The company releases its Appendix 4G and Corporate Governance Statement.

26/10/2023

Lakes Blue Energy's 2023 Annual Report lodged following finalisation of binding arrangement for farmout of an interest in PEP 169, Victoria. Placement of Shortfall securities from the recent rights issue to Shareholders is proceeding.

26/10/2023

The company lodges its Annual Report to shareholders.

25/10/2023

Cooper Energy and Lakes Blue Energy have agreed to binding terms for the Company to farm into 25.1% of the permit with an upfront consideration of A$1.2 million, together with funding Lakes Blue Energy's retained 23.9% working interest of the drilling costs of Enterprise North-1, capped at A$1.25 million. The transaction is conditional on the completion of due diligence, negotiation of transaction documents and obtaining necessary consents and regulatory approvals.

23/10/2023

Lakes Blue Energy has agreed binding terms for farmout to Cooper Energy of a 25.1% interest in PEP 169, Victoria. Cooper Energy will make an up-front payment to Lakes and will fund a capped portion of Lakes' share of the cost of drilling the Enterprise North-1 well.

23/10/2023

Shareholders in this company should consider crystallising a capital loss in 2023/24 by selling their shares. This process is now much easier and quicker. It can be achieved online by entering transaction details here. While, this usually makes good economic sense we recommend you seek professional advice before buying or selling securities, your accountant is probably the best person.

15/10/2023

The company releases a notice of application for quotation of securities.

13/10/2023

The company's recent nonrenounceable rights issue closed on Friday, 6 October 2023 and raised $363,479.68 (before costs). The Chairman and Managing Director applied for their full Entitlements and 1,295 other Shareholders applied for Shares under the Rights Issue. Allotment of the New Shares is expected to occur tomorrow, 13 October 2023. The Directors reserve the right to place any Shortfall Securities on the same terms as the Rights Issue.

12/10/2023

Lodgement of Lakes Blue Energy's 2023 Annual Report delayed while principles of PEP 169 farmout arrangement are finalised.

03/10/2023

The securities of the entity will be suspended from quotation under Listing Rule 17.5 from the commencement of trading today, Monday, 2 October 2023, for not lodging the relevant periodic report by the due date. If the report is lodged between the closure of the market announcements office on Friday, 29 September 2023, and the imposition of the suspension, the entity's securities will normally be reinstated to quotation on the next trading day after the suspension is imposed.

02/10/2023

The suspension of trading in the securities of Lakes Blue Energy NL is expected to be lifted from the commencement of trading on Monday, 7 February 2022 following the release by LKO of the Reinstatement Disclosure announcement.

04/02/2022

The securities of Lakes Blue Energy NL ("˜LKO') are expected to be reinstated to Official Quotation at the commencement of trading at 10.09+/-15 secs am AEDT on Monday, 7 February 2022.

04/02/2022

The company releases the following: Application for quotation of securities; and Appendix 4G and Corporate Governance Statement.

03/02/2022

Earthworks in preparation for drilling of the Wellesely-2 gas well in Queensland, are complete. Easternwell Rig #101 has been contracted to drill the well. Drilling rig is being mobilised to site with spudding of the well expected to take place on 7 February 2022. Drilling and testing of the well expected to take around 10 to 14 days. The Wellesley-2 well is targeting the Wellesley Dome, which contains a Best Estimate Prospective Resource of 41 billion cubic feet of gas.

01/02/2022

Capital raising pursuant to Replacement Prospectus closed on 31 January 2022. Offers under the Replacement Prospectus were fully subscribed. A total of $4,342,810 was raised under the Offers, with a further $1,146,000 raised through placements made in advance of issue of the Replacement Prospectus. Total of $5,488,810 funds raised. New shares to be issued on 2 February 2022.

01/02/2022

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

31/01/2022

Minimum Subscription of $2.404m under the Replacement Prospectus issued by the Company on 20 January 2022 has been achieved. Share Offers under the Replacement Prospectus are open, and are presently scheduled to close on 31 January 2022. Shares are offered at an issue price of $0.0008 per share. Applications can be made online at https://lakesblueenergyshareoffer.thereachagency.com/offer/.

27/01/2022

The company releases a notice of proposed issue of securities.

27/01/2022

The company releases a notification of cessation of securities.

27/01/2022

Replacement Prospectus was lodged with ASIC and ASX on 20 January 2022. Share Offers under the Replacement Prospectus are now open, and will close on 31 January 2022. Shares are offered at an issue price of $0.0008 per share. Applications can be made online at https://lakesblueenergyshareoffer.thereachagency.com/offer/.

21/01/2022

The company releases a replacement prospectus for the offer of up to 5,428,512,971 Shares at an Offer Price of $0.0008 per New Share, to raise up to approximately $4,342,810 before costs. The Offer is scheduled to close at 5.00 pm (Sydney time) on 31 January 2022.

20/01/2022

The company lodges its Annual Report to shareholders.

20/01/2022

The company releases a letter to its shareholders. Lakes has reached agreement with the Australian Stock Exchange for the resumption of trading of the Company's shares subject to the satisfaction of certain conditions. The Company's ASX release of 10 January provides an update of those matters. The Company has released a Prospectus to raise additional capital at $0.0008 per share, a 20% discount to the minimum trade price allowable on the ASX. The Prospectus also sets out how applications for new shares can be made, with an online option being available at https://lakesblueenergyshareoffer.thereachagency.com, when the Offer opens on 14 January 2022. The Offer closes on 24 January 2022.

13/01/2022

Full-form Prospectus lodged with ASIC and ASX on 7 January 2022. General public and Institutional offers to be made for shares at an issue price of $0.0008 per share. Offers to open 14 January 2022 and close 24 January 2022. Maximum of $4.342m to be raised, with $2.404m assured through advance subscription commitments of $0.800m and underwriting of $1.604m. Together with $1.146m of share placements already completed, Lakes Blue Energy is assured of raising $3.550m in satisfaction of ASX specified condition for resumption of trading of the Company's shares.

10/01/2022

The company releases a prospectus for the offer of up to 5,428,512,971 shares at an offer price of $0008 per new share to raise up to approximately $4,342,810 before costs. The offer is scheduled to close at 5.00 pm (Sydney time) on 24 January 2022.

07/01/2022

Earthworks have commenced in preparation for drilling of the Wellesely-2 gas well in Queensland. Spudding of the Wellesley-2 well is planned for January 2022 with Easternwell's Rig #101. Drilling and testing of the well expected to take around 10 to 14 days. The Wellesley-2 well will target the Wellesley Dome, which contains a Best Estimate Prospective Resource of 41 billion cubic feet of gas. Commencement of earthworks satisfies a key ASX specified precondition for resumption of trading of Lakes' Shares.

05/01/2022

The Company has finalised arrangements for completion of civil works required for drilling of the Wellesely-2 well, in Queensland. Work will commence shortly. The Company has also progressed drafting of a full-form Prospectus in accordance with section 710 of the Corporations Act. The Prospectus will be lodged with the ASIC and the ASX as soon as it is completed. The Prospectus provides for a general public offer of shares to raise a minimum of $2.404m up to a maximum of approximately $4.343m. Raising of the minimum amount will be assured through a $0.800m firm advance subscription commitment and a $1.604m underwriting commitment. The Company has also secured firm arrangements for placement of shares, in addition to those to be offered under the Prospectus, to the value of $1.146m. Taken together, the firm placments and the minimum subscription under the Prospectus will mean the Company raises at least $3.550m.

05/01/2022

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

29/10/2021

ASX has provided the Company with conditions for reinstatement based on its submissions and conversations. Lakes Blue Energy's shares will be reinstated to official quotation subject to, inter alia, the Company raising $3,550,000 and announcing that earthwork equipment is on site and wellsite and access track earthworks have commenced for the planned drilling of Wellesley-2, in Queensland. The conditions have to be satisfied prior to 1 January 2022. The Board is currently working on the capital raise and, upon its completion, will immediately commence works at Wellesley-2, thereby allowing resumption of trading of the Company's shares on the ASX platform.

25/10/2021

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

28/07/2021

Conversations with ASX continue regarding the company's request for reinstatement of its securities to quotation.

26/07/2021

The company releases a Notification regarding unquoted securities.

23/07/2021

Allocations have been completed for the R3D Resources $4.25 million public offering and the offer is closed. Surplus subscriptions monies are now being refunded. Surplus application monies are being returned where no allocation was made to a particular applicant or the number of shares allocated is less than the number applied for by the applicant. R3D reserved the right to allocate to any applicant a lesser number of shares than that applied for, or to decline any application. Shares were allotted today having received ASX conditional consent for official quotation of the shares.

12/07/2021

The company releases the notice of the status of the defeating and other conditions to the offmarket takeover offer of all of the shares and options in Tartana Resources Limited. R3D advises all Tartana shareholders that the offers are now unconditional and will close at 7:00pm (Sydney Time) on 31 July 2021.

12/07/2021

Nangwarry-1 extended production testing results confirm the commercial potential of Nangwarry with gross saleable carbon dioxide resource upgraded to 25.9 Bcf. Nangwarry-1 well capable of producing at a raw gas rate of up to 18.6 MMscfd. Retention Licence already in place over Nangwarry area. Nangwarry resource capable of producing in excess of 150 tonnes per day of carbon dioxide over 20+ years.

12/07/2021

Independent analysis of Nangwarry extended flow test data nearing completion. Operations Plans for resumption of Victorian exploration ready for submission, with objective of drilling Wombat-5 conventional well mid 2022. Farmout discussions for multi-Tcf Buna prospect (PNG) progressing. Funding conditionally in place to meet 2021/22 requirements. Comprehensive, formal submission provided to ASX on 30 June 2021 seeking reinstatement of the Company's securities to quotation.

02/07/2021

The company lodges its Quarterly Activities/Appendix 5B Cash Flow Report.

31/05/2021

The company lodges its Half Yearly Report and Accounts.

26/05/2021

The company releases an Appendix 2A and Appendix 3G.

21/05/2021

The directors have been successful in securing an extension to the unlisted convertible redeemable notes maturing on 31 December 2021 to 31 March 2023 effective. The company also releases an Appendix 3G.

23/04/2021

The company releases an Appendix 3G.

14/04/2021

The company releases an Appendix 2A.

14/04/2021

Extended production testing of the Nangwarry-1 well is complete. Gas flowed for two days through a ¾ inch choke at 10.8 million cubic feet per day, with wellhead pressure steady at 1,415 psi (9.8 Megapascals). Peak, tubing constrained, gas flow rate of 22 MMscfd achieved, confirming carbon dioxide production potential. Preliminary test results have exceeded expectations. Resource size and quality evaluation underway prior to commercial development of the resource. The Nangwarry joint venture is investigating the potential for development of Nangwarry for production of food grade carbon dioxide, with an investment decision targeted for the second half of 2021.

07/04/2021

name changed from Lakes Oil NL

26/03/2021

 

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ASX, Legal & CGT Status

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    Click here for free access to this company's:
    ASX, Legal & CGT Status

    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNUMBERPRICEAMOUNT
    11/07/2016Chris Tonkin6,500,000$0.002$9,750
    08/07/2016Kyle Wightman3,000,000$0.002$4,500
    22/05/2014Robert Annells-15,000,000$0.003$45,000
    02/03/2012Bill Stubbs6,000,000$0.005$30,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Richard AshChairman21/08/2018
    Tim O'BrienCOO
    Leslie SmithCFO01/06/2010
    Nick MatherNon Exec Director07/02/2012
    Roland SleemanExecutive Director, CEO08/12/2016

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Chris TonkinChairman23/05/201621/11/2019
    Kyle WightmanNon Exec Director04/08/201421/11/2019
    Ian PlimerNon Exec Director27/01/201321/11/2019
    Barney BeroldNon Exec Director20/02/200724/04/2019
    Bill StubbsNon Exec Director07/02/201213/11/2018
    Karl SchlobohmAlternate Director24/11/201616/01/2017
    Robbert de WeijerAlternate Director05/06/201428/09/2016
    Andrew DavisNon Exec Director09/09/201502/06/2016
    Robert AnnellsExecutive Chairman03/12/198420/05/2016
    Matthew StubbsAlternate Director11/05/201226/08/2014
    Alexander DownerNon Exec Director01/02/201317/04/2014
    James SymeDirector28/05/200627/11/2012
    Peter LawrenceDirector04/12/200027/11/2012

    Date of first appointment, title may have changed.