I think the LKO board is doing exactly the right thing not hassling the judge.
The fact this judgement has taken so long to be passed down will be factored into the judgement itself. Patience.
The Victorian labour party have just got this plain wrong and now compound this situation with their refusal to back track. The public outcry over gas prices is loud and this situation ridiculous.
How can you buy an electric vehicle if you cant afford your gas bills??
A green future is the way forward but they have overstepped and clearly got ahead of the curve as pointed out by Shorten who is much like a scurrying rat readying to jump off a sinking ship imo.
This scientific investigation paid for by the public purse is ridiculous. Seriously how much environmental damage is going to be done by Lakes oil in drilling 15-20 holes?? Because if they dont find economic quantities of gas, then lakes simply will stop drilling for it. Because as we know the market wont be willing to fund a failing operation.
If the Vic labour govt come back with science that suggests there is no gas of course this will be disputed. And lakes will have the superior science, having been in the game for decades.
The Victorian labour party should have quietly snuck out of this. There are politically clever ways to do so. Instead they now find themselves out of favour with those in their own party at a federal level.
The bigger picture here is that the Vic labour govt having presided over a dud policy, instead of quietly backtracking and facing some heat, (from a liberal party in a trying political climate please note- how much traction would they have gotten??), have instead opted to play fiscal chicken with the judical system to the tune of 2 billion.
And none of it is personally their own money. The high gas prices and possible damages, (which one would now think are currently compounding at a higher rate due to potential obustification) are all liabilities of the tax payer, you and I Joe public.
Whether you are a liberal or a green or a labour supporter these guys have got to go. A little bit of insurrection within the Victorian Labour party itself might draw some faith.
LKO Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held