LAKES OIL N.L. geht guter Dinge (675558)
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Home Page
Corporate Details
Directors
Share Price Data
Announcements
Reports
Current Projects LAKES OIL N.L.
Quarterly Report
Quarterly Activities Report
and
Mining Exploration Entity Quarterly Report
for the quarter ended
31 March 2005
Also available as a PDF File (336K)
CORPORATE DIRECTORY
Directors
Robert J. Annells CPA, ASIA (Executiv Chairman)
Peter C. Dunn BE, FAusIMM, FSIA
Peter B. Lawrence BCom, MBA, FCPA
Company Secretary & Chief Financial Officer
Robert E. Love FCA, FCIS
Technical Consultants
Eric A. Webb BSc, MAAPG,FausIMM
Xiaowen Sun BSc (Hons) MSc PhD MAAPG
Greg J Blackburn BSc (Hons) PhD
Ingrid Campbell RMIT (Geol), MPESA, MGSA
Guy Holdgate BSc (Hons), PhD
Registered Office
Level 11,
500 Collins Street,
MELBOURNE Vic. 3000
Telephone: (03) 9629 1566
Facsimile : (03) 9629 1624
Address for Correspondence
P.O. Box 300,
Collins Street West,
MELBOURNE Vic. 8007
e-mail: lakesoil@lakesoil.com.au
Web site: www.lakesoil.com.au
Stock Exchange
Australian Stock Exchange Limited
Level 3, 530 Collins Street,
MELBOURNE Vic. 3000
ASX code: LKO
Legal Advisors
Corrs Chambers Westgarth
Bourke Place, Level 6,
600 Bourke Street,
MELBOURNE Vic. 3000
Baker & McKenzie
Rialto, Level 39
525 Collins Street
Melbourne Vic. 3000
Auditors
Ernst & Young
Level 33, 120 Collins Street,
MELBOURNE Vic. 3000
Bankers
Westpac Banking Corporation
360 Collins Street,
MELBOURNE Vic. 3000
Share Registry
Company Secretary
c/- Computershare Investor Services Pty. Ltd.
Yarra Falls, 452 Johnston Street
Abbotsford, Victoria 3067
The company operates a web site which directors encourage you to access for the most recent information on the Lakes Oil Group.
QUARTERLY ACTIVITIES REPORT FOR
THE THREE MONTHS ENDED 31 MARCH 2005
Following a successful capital raising in the previous quarter Gippsland Offshore Petroleum Limited ("GOP") listed on the Australian Stock Exchange on 10 January 2005, and farmed into three permits in which Lakes Oil N.L. or a wholly owned subsidiary company held an interest. The permit areas are PEP 155 (Marlo Block), Vic/P40 V and Vic/P47 (west) (Gilbert Blocks).
ONSHORE GIPPSLAND BASIN
PEP 155 Western Block - Onshore, Victoria
(Lakes Oil Group, Operator: 100% interest)
Results of the airborne Falcon gravimetric, radiometric and magnetics surveys are being integrated with available geological and seismic data from nearby offshore areas. These results are being co-ordinated with ongoing geological mapping and aerial photographic studies conducted across both portions of the PEP 155 permit.
PEP 155 Marlo Block (Eastern portion) - Onshore, Victoria
(Lakes Oil Group, Operator: 46% interest)
Two prospects, "Banjo" and "Patrobus" in the Marlo Block have been identified from air photo interpretation together with results from Falcon gravimetric, radiometric and magnetics surveys. Results of this data are being integrated with available geological and seismic data from nearby offshore areas. These two shallow prospects are expected to be drilled in the June Quarter.
PEP 156 - Onshore, Victoria
(Lakes Oil Group, Operator: 100% interest)
Geological studies, which are continuing, were conducted in the Bairnsdale/ Lakes Entrance area and around Loch Sport. A better understanding of the geology and petroleum potential is emerging. This work has up-graded the Lochport- Secombe area in particular.
PEP 157 - Onshore, Victoria
(Lakes Oil Group, Operator: 100% interest of overall permit Roma Petroleum NL has a 5% over-riding royalty)
Field operations and geological/geophysical studies occurred during the quarter in this highly prospective permit. The field activities included:
Echidna High - 1 exploration well
(Lakes Oil Group, Operator: 100% interest)
Echidna High - 1 well was spudded on 26 February 2005 and programmed to drill to a depth of 1,500 metres to test a mapped seismic structure located some10 kilometres north-west of the Wombat discovery wells. The primary target was sands in the Strzelecki Group and secondary target in the Latrobe Group. The section intersected was affected by faulting and the top of the Latrobe and Strzelecki Groups were intersected deeper than anticipated. After minor gas shows were recorded in the Strzelecki Group at 1,591 metres, it was decided to case the well to 1,600 metres and test the section in the interval between 1,590 and 1,609 metres. No significant shows were encountered in the testing. The well continued to a total depth of 1,868 metres when electric logs were run to examine the nature of the deeper section penetrated on both sides of the fault forming the structure. Detailed interpretation of the well and seismic data are currently being conducted. The well reached total depth on 22 March 2005.
WOMBAT BLOCK
(Lakes Oil Group, Operator: 92.5% Private interests 7.5%)
Wombat - 2 well test
Wombat - 2 well was re-opened for extended gas flow-testing during drilling of the nearby Echidna High well while personnel were in the area. The well continued to flow gas to the surface for over a week before being shut-in to establish the build-up pressures in the reservoir sands. Results of the testing are currently being evaluated by Halliburton in Denver, Colorado.
TRIFON BLOCK
(Lakes Oil Group, Operator: 50% Jarden Corporation Australia Pty Ltd 50%)
Trifon - 2, North Seaspray - 3
Further evaluation continues on the results of the Trifon and North Seaspray wells and the Wombat Gas Field.
Since the end of this quarter, Lakes Oil N.L. has contracted an experienced hydraulic fracturing expert, Mr. Jim Macadam, to evaluate the economic feasibility of development of the Wombat and Trifon gas reservoirs and to oversee the fracture stimulation program on both the Wombat-3 and Trifon-2 wells. Initial evaluation on the commercial development of these wells is expected to be available in the next quarter.
Geological and geophysical
Large scale re-mapping of all existing seismic in PEP 157 continued during the quarter. This re-mapping in both PEP 157 and the adjoining permit PEP 158, will provide continuous maps of the western portion of the onshore Gippsland Basin.
PEP 158 - Onshore, Victoria
(Lakes Oil Group, Operator: 100% interest)
Work is continuing on re-mapping of all the existing seismic in the permit in conjunction with that from the adjoining permit PEP 157. All relevant well data has been reviewed so that it can be calibrated with the seismic. The re-mapping in both PEP 158 and the adjoining permit PEP 157, will provide continuous maps of the western portion of the onshore Gippsland Basin.
PEP 166 - Onshore, Victoria
(Lakes Oil Group: 50% interest; Operator: Lakes Oil jointly with AusAm Resources Limited)
Geological studies have continued in this permit in the South Gippsland Hills. Several leads and prospects on the subsurface top of Strzelecki Group have been identified. These include leads at Hazelwood and Loy Yang. A drilling proposal is being prepared for the drilling of the Hazelwood prospect.
OFFSHORE GIPPSLAND BASIN
VIC /P47 (GILBERT BLOCK ) - Offshore, Victoria
(Lakes Oil Group: 26% interest; Operator: Bass Strait Oil Co)
Geological studies continued on the Gilbert Prospect and on new play concepts in this block. The seismically defined Gilbert Prospect is planned to be drilled later in the year, using the "Ocean Pariot" semi-submersible drilling rig.
The participating interests in the Gilbert Block subsequent to drilling of Gilbert would be:
Gippsland Offshore Petroleum Ltd 51%
Petro Tech Pty Ltd - a wholly-owned subsidiary of Lakes Oil 26%
Rilo Explorations Pty Ltd 3%
Moby Oil and Gas Ltd 10%
Eagle Bay Resources NL 10%
Work is continuing on the Gilbert prospect and on new play concepts in the permit.
VIC/P40 (V) - Nearshore, Victoria
(Lakes Oil Group - 39.2%; Operator: Lakes Oil NL)
During the previous quarter, the company signed a farm-in agreement with Gippsland Offshore Petroleum Ltd. Lakes Oil have a participating interest of 39.2% subsequent to GOP's expenditure.
Further interpretation of the Falcon airborne gravity and magnetic survey continued in this permit in Victorian territorial waters between Lakes Entrance and Marlo. The interpretation has identified the Foster Prospect and the Harman Lead, a structural trap. The Foster Prospect has adequate seismic coverage and could be drilled at short notice.
ONSHORE OTWAY BASIN
PEL 57 - Onshore, South Australia
(Lakes Oil Group: 40% interest; Operator: Lakes Oil N.l.)
There was no activity undertaken in this permit during the March 2005 quarter.
PEP 152 - Onshore, Victoria
(Lakes Oil Group: 15.59% interest; Operator: Essential Petroleum Resources)
There was no activity undertaken in this permit during the March 2005 quarter.
PEP 163 - Onshore, Victoria
(Lakes Oil Group, Operator: 100% interest)
Geological and geophysical studies continued in this under-explored block centred on the Bellarine Peninsula. Planning and preparation for a regional geochemical survey was conducted with an estimated start date before the end of autumn.
PEP 164 - Onshore, Victoria
(Lakes Oil Group, Operator: 100% interest)
Geological and geophysical studies continued in this under-explored block centred on the Colac Plains. Planning and preparation for a regional geochemical survey was conducted with an estimated start date before the end of Autumn.
EROMANGA BASIN - Queensland
ATP 560P - McIVER BLOCK - Onshore, Queensland
(Lakes Oil Group: 50% interest; Operator: Victoria Petroleum N.L.)
There was no activity undertaken on this permit during the March 2005 quarter.
ATP 560P - UELEVEN BLOCK - Onshore, Queensland
(Lakes Oil Group: 25% interest; Operator: Icon Oil N.L.)
There was no activity undertaken on this permit during the March 2005 quarter.
ONSHORE USA - San Joaquin Basin California
EAGLE PROSPECT - Onshore, California, U.S.A.
(Lakes Oil Group: 15% working interest; Operator: Victoria Petroleum N.L.)
Efforts to farm-out this prospect are continuing.
KINGFISHER PROSPECT - Onshore, California, U.S.A.
(Lakes Oil Group: 10% interest; Operator: Victoria Petroleum N.L.)
There was no activity undertaken on this permit during the March quarter.
Signed on behalf of Lakes Oil N.L.
Robert J. Annells - Chairman
Dated 28 April 2005
Rule 5.3
Appendix 5B
Mining exploration entity quarterly report
Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.
Name of entity
LAKES OIL N.L.
ABN
Quarter ended ("current quarter")
62 004 247 214
31 March 2005
Consolidated statement of cash flows
Cash flows related to operating activities
Current quarter
$A'000
Year to date
(9 months)
$A'000
1.1
Receipts from product sales and related debtors
-
-
1.2
Payments for:
(a) exploration and evaluation
(b) development
(c) production
(d) administration
(e) capital raising costs
(340)
-
-
(439)
(100)
(7,024)
-
-
(1,668)
(282)
1.3
Dividends received
-
-
1.4
Interest and other items of a similar nature received
9
66
1.5
Interest and other costs of finance paid
-
-
1.6
Income taxes paid
-
-
1.7
Net movement in GST suspense account
(159)
(23)
Net operating cash flows
(1,029)
(8.931)
Cash flows related to investing activities
1.8
Payment for purchases of:
(a) prospects
(b) equity investments
(c) other fixed assets
-
(34)
(1)
-
(914)
(146)
1.9
Proceeds from sale of:
(a) prospects
(b) equity investments
(c) other fixed assets
-
140
-
-
595
-
1.10
Loans to other entities
-
-
1.11
Loans repaid by other entities
-
-
1.12
Other - Debtors
132
(218)
Net investing cash flows
237
(683)
1.13
Total operating & investing cash flows (carried forward)
(792)
(9,614)
Current quarter
$A'000
Year to date
(9 months)
$A'000
1.13
Total operating & investing cash flows (brought forward)
(792)
(9,614)
Cash flows related to financing activities
1.14
Proceeds from issues of shares options, etc.
2,377
5412
1.15
Proceeds from sale of forfeited shares
-
-
1.16
Proceeds from borrowings
-
-
1.17
Repayment of borrowings
-
-
1.18
Dividends paid
-
-
1.19
Trifon Joint Venture Farmin Agreement
1,721
3721
Net financing cash flows
4,098
9,133
Net increase (decrease) in cash held
3,306
(481)
1.20
Cash at beginning of quarter/year to date
139
3,926
1.21
Exchange rate adjustments to item 1.20
-
-
1.22
Cash at end of quarter
3,445
3,445
Payments to Directors of the entity and associates of the Directors;
Payments to related entities and associates of the related entities.
Current quarter
$A'000
1.23
Aggregate amount of payments to the parties included in item 1.2
80
1.24
Aggregate amount of loans to the parties included in item 1.10
-
1.25
Explanation necessary for an understanding of the transactions
Directors Fees: $18,750
Consulting and professional fees paid to a Director-related entity: $61,250
Non-cash financing and investing activities
2.1
Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows
None
2.2
Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest
None
Financing facilities available
Add notes as necessary for an understanding of the position.
Amount available
$A'000
Amount used
$A'000
3.1
Loan facilities
-
-
3.2
Credit standby arrangements
-
-
Estimated cash outflows for next quarter
$ A'000
4.1
Exploration and evaluation
2,100
4.2
Development
-
Total
2,100
Reconciliation of cash
Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows.
Current quarter
$A'000
Previous quarter
$ A'000
5.1
Cash on hand and at bank (item 1.22)
3,445
139
5.2
Deposits at call
117
17
5.3
Bank overdraft
-
-
5.4
Investments in listed companies
2,379
2,549
Total: cash at end of quarter
5,941
2,805
Changes in interests in mining tenements
Tenement reference
Nature of interest
(note (2))
Interest at beginning of quarter
Interest at end of quarter
6.1
Interests in mining tenements relinquished, reduced or lapsed
No change
-
-
6.2
Interests in mining tenements acquired or increased
No change
-
-
Issued and quoted securities at end of current quarter
Description includes rate of interest and any redemption or conversion rights together with prices and dates.
Number issued
Number quoted
Issue price per securitiy (see note 3) (cents)
Amount paid up per security (see note 3) (cents)
7.1
Preference +securities (description)
-
-
7.2
Changes during quarter
(a) Increases through issues
(b) Decreases through returns of capital, buy-backs, redemptions
-
-
7.3
+Ordinary securities
1,352,701,516
1,352,701,516 -
-
7.4
Changes during quarter
(a) Increases through issues
(b) Decrease through returns of capital, buy-backs
59,420,000
Nil
59,420,000
Nil
$0.04
$0.04
7.5
+Convertible debt securities (description)
-
-
7.6
Changes during quarter
(a) Increases through issues
(b) Decreases through securities matured, converted
-
-
7.7
Options
Directors
Staff
Trifon Farmin
36,000,000
24,000,000
15,000,000
30,000,000
105,000,000
-
Exercise price
5 cents
7.14 cents
5 cents
7.1 cents
Expiry date
30 June 2005
17 November 2009
30 June 2005
30 June 2005
7.8
Issued during the quarter
-
-
7.9
Exercised during the quarter
-
-
7.10
Expired during the quarter
2,500,000 -
5 cents
7.11
Debentures
(totals only)
-
-
7.12
Unsecured notes (totals only)
-
-
Compliance statement
This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Law or other standards acceptable to ASX (see note 4).
This statement does give a true and fair view of the matters disclosed.
Sign here: ............................................................ Date: 21 April 2005
Company Secretary
Print name: Robert E Love
Notes
The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.
The "Nature of interest" (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.
Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities.
The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report.
Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.
== == == == ==
For More information contact Rob Annells, Chairman
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Ist hier noch etwas im Gange?
Hier der Jahresabschlussbericht.
Link: www.lakesoil.com.au/assets/Uploads/...rly-Report-31-December-2008.pdf
aber sicher nach oben:
http://www.lakesoil.com.au/assets/Uploads/...greement-Final.pdf
http://www.lakesoil.com.au/assets/Uploads/...-12-April-2012-FINAL.pdf
Ps Gas und Öl?...dachte immer entweder Gas oder Öl,man lernt nie aus,danke