lakes oil rl2, page-2

LKO was successful in raising over $5m which ensures its survival and the drilling of Wombat 4. Can I suggest that if Lakes does prove up this gas deposit,which is looking a reasonable bet, RPMs 5% is going to be very significant.

You throw in Growler ,which is planned to bring up to 150- 200 bbls pd to RPM, The huge potential of CSG in PEL 171, and now the 5% royalty on ~600bcf from Wombat (plus possibly other deposits in the lease) and RPM is looking a very good buy. A 5% royalty is better than 5% ownership as there are NO costs to RPM.


Rememebr RPM ahd only 260m shares atm.