Ann: DHR: Lakes Oil Acquires 100% of NavGas Pty Ltd, page-40

Blister:

Yes they can retrospectively apply the legislation and they have...but they made a mess of it and thereby exposed a loophole that LKO has seized upon ....very unlikely they will receive significant compensation.
Of more concern is that I have heard an unconfirmed rumour but from a credible source that one, possibly two majors are or have drilled onshore in Victoria and that they are playing the waiting game to obtain the permits when LKO go out of business.This would fit with the Andrews government spending $43 million dollars to investigate the onshore gas resource in Victoria. How else do you determine a credible estimate of the onshore reserves.....seismic surveys are not definitive....you have to actually drill and log the results....something they have gone to extraordinary lengths to stop LKO doing. I hope to be proven wrong but there is a lot of money involved here if the estimates of in place gas are proven correct.