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lakes oil nl (LKO) Snapshot

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11/22/13 - A$0.0060
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06/20/14 - A$0.0020
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lakes oil nl (LKO) Details

Lakes Oil N.L., together with its subsidiaries, invests in and explores for hydrocarbon properties in Australia and the United States. The company holds 100% interests in the Onshore Gippsland Basin, as well as Onshore Otway Basin permits in Victoria; and a 15% working interest in the Eagle prospect located in the San Joaquin Basin, California. It also has interests in three coal exploration leases, including EL 5333, EL 5334, and EL 5394 in the Onshore Gippsland Basin. The company is based in Melbourne, Australia.

7 Employees
Last Reported Date: 09/30/14

lakes oil nl (LKO) Top Compensated Officers

Executive Chairman
Total Annual Compensation: A$315.8K
Chief Financial Officer and Company Secretary
Total Annual Compensation: A$147.5K
Chief Geologist
Total Annual Compensation: A$190.5K
Operations Manager
Total Annual Compensation: A$227.5K
Compensation as of Fiscal Year 2014.

lakes oil nl (LKO) Key Developments

Lakes Oil NL Announces Audited Consolidated Earnings Results for the Year Ended June 30, 2014

Lakes Oil NL announced audited consolidated earnings results for the year ended June 30, 2014. For the year, the company reported revenue and other income of $493,000 against $365,000 a year ago. Loss before tax was $3,168,000 against $2,953,000 a year ago. Net loss from continuing operations was $3,168,000 against $2,953,000 a year ago. Diluted loss per share from continuing operations was $0.04 against $0.04 a year ago. Net cash flows used in operating activities was $2,581,000 against $2,831,000 a year ago. Purchase of property, plant and equipment was $119,000 against $4,000 a year ago.

Lakes Oil NL Announces Director Changes

Lakes Oil NL announced the resignation of Matthew Stubbs as alternate director for Mr. William (Bill) Stubbs. The company also announced the appointment of Robbert de Weijer as alternate director for William (Bill) Stubbs. Mr. de Weijer is currently the chief executive officer of Armour Energy Limited and was appointed as the alternate for Nick Mather on June 5, 2014.

Lakes Oil NL Appoints Kyle Wightman as Non-Executive Director

Lakes Oil NL announced that Kyle Wightman BComm, MBA, FAICD, CFTP (Snr) to the Board as a Non-Executive Director with immediate effect. Mr. Wightman is a nominee of Hancock Prospecting Pty Ltd. and replaces the Hon. Alexander Downer AC who retired from the Board in April 2014 upon his taking up the position of High Commissioner to the United Kingdom. Mr. Wightman has been appointed to the Remuneration Committee of Lakes Oil NL.


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Valuation LKO Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 52.7x
Price/Book 0.5x
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TEV/Sales 48.7x

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