Dec 19 (Reuters) - Lakes Oil NL (LKO) :
- LAUNCHED ENTITLEMENT ISSUE OF ONE ORDINARY SHARE FOR EACH FIVE SHARES HELD BY ELIGIBLE SECURITYHOLDERS TO RAISE UP TO $6.13 MILLION
- PROCEEDS OF ENTITLEMENT TO BE USED TO UNDERTAKE EXPLORATION, DRILLING & TESTING ACTIVITY IN ONSHORE OTWAY BASIN IN SOUTH AUSTRALIA