I had a bad experience last year with GPP. One of the oldest listed companies on the ASX. Big promises and i'd bought in 2016 and well saw failure and failure to deliver month after month. Sold out after a year. I think, yes i would have sold out if there had been no progress for so long. I think what encouraged me to buy in is because long term i think the political landscape will change and secondly gina reinhardt. Thirdly, my uncle was the top litigator in the US for Oil and Gas and was a partner in the firm in the us for the very same company representing LKO. Knowing this firm is one of the best in the world gave me more confidence LKO are serious about this. So yes it is a very big gamble, but i've only put a small amount in. I have diversified my investments across a number of companies in this sector. My expectations is to have a 30% success rate.
My thoughts are that if the judge wants to not let the government appeal successfully he has to be spot on the points of law and the damages. That will prevent the VIC government successfully appealing.
The same debate happened in the UK. The government left it to local councils to decide about fracking. Sure enough the greens turned up everywhere !!
But permits were granted and exploration was and is being carried out. The uk government realised that an abundance of such a resource should be left unexplored purely for economic reasons.
It's clear here that with the decision of NT, QLD and Perth allowing gas exploration, the voters in states will be asking the question why aren't we doing that. Then if those states generate revenues then the voices will be getting louder. But that is democracy in work.
LKO Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
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