Very good questions. The problem is the ruling/s when handed down may or may not be straight forward. If the ruling simply states that LKO can proceed with their original approvals etc (that were granted before the fracking ban), surely they will just rip in and get it done. If damages are awarded, all the better, to help with costs etc. I get the sense that this is what may happen, but maybe I am being too optimistic ?
If the ban is to remain, wow that will be a big disappointment. Armour would need to carefully weigh up it's options.
Then again, the ruling could comprise a raft of variables, new red tape for approvals etc that would be enticing, but more hoops to jump through like circus animals. More headaches, more cost, more waiting.
The original decision to JV with LKO was a good plan IMO. In hindsight, who would have predicted that they would have been caught up in Vic Gov't bans ? LKO hold very good ground (in a number of States), they have plenty of expertise (they claim to be Australia's oldest O & G Explorer), they also have Gina Rinehart as No 2 Shareholder, so makes sense that we retain a business relationship with them.
Anyrate, the Judge has reserved his decision.... so unfortunately we will just need to wait. All will eventually be revealed.
GLTH
AJQ Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
