Ann: DHR: Lakes Oil Acquires 100% of NavGas Pty Ltd, page-36

I have been reading your posts over the last few weeks and I would like to express my support on your comments , and also would like to express some of my thoughts on the likely outcome of the court hearing:
. State Governments issue mining and oil drilling licences for a good reason, after due consideration. Basically the issuance of the licence has conditions attached and becomes a contract of sorts between Company & Government.
. Should the Government , of the same persuasion, decide to terminate the drilling licence for no stated reason, or whatever reason, they would be in breach of " contract". They were "GREEN" when issuing the licence and were "GREEN" when they cancelled it.
. Companies (and by definition shareholders ) base their business decisions , actions and expenditure on the strength of their drilling licence.
. The rule of law is the rule of law and any breach of law by the licensor is actionable by the licensee
. LKO would have given serious consideration prior to commencing legal proceedings against the State Government (and thats after their Legal team would have read every document and assessed the total deal).
. The fact that LKO have proceeded with legal action swings the odds very much for a favourable outcome. It becomes a question of how much will the compensation be rather than if.
. In my view if the Judge dismisses the claim or awards LKO below $250 million the case will be taken to the High Court.
.My uneducated guess is that the Judge will award in favour of LKO to the tune of $150 mil

We can only expect (and hope) that the rule of law will be the winner.