Ann: DHR: Lakes Oil Acquires 100% of NavGas Pty Ltd, page-44

LKO have aquired NavGas and have other exploration opportunities in QLD where the state government is Oil and Gas friendly.

My thoughts are if LKO are awarded damages akin to outlay, but cannot explore, well this will fund them to explore in other areas.

However, if the state government thinks it can give out new licences to other explorers having reneged on the current license it awarded to LKO well there is a statute of limitations i believe of 10 years and so LKO would be well within it's rights to sue if exploration was subsequently allowed by the state government. If the government did that it would show us all and the world they are a bunch of amateurs.

So i think yes investing now is betting on the outcome, but it how big they win, or how big they lose that is the question. The fact this has gone to the supreme court to me suggest merit in the writ issued.