Forum Archive Index - March 2000

[Nigel McCarter <n.mccarter@clear.net.nz>]

Lakes oil is moving up on the ASX to currently about 9 cents Australian
(11.9 NZ)
on the strength of drilling contract announcement


23 March 2000
Part 1/1
--------
LAKES OIL NL
------------
HOMEX - Melbourne
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Signing of a drilling contract for North Seaspray-3
The Board of Directors of Lakes Oil NL wishes to announce that the
Company has recently executed a contract with a Melbourne-based
drilling contractor in respect of the North Seaspray-3 exploration
well in Petroleum Exploration Permit ("PEP") 137.
The contract, dated March 22, 2000, states that the anticipated spud
(commencement) date of the well will be approximately April 10, 2000.
This date will be subject to the Company first receiving approval
from the Victorian Department of Natural Resources and the
Environment. It is estimated that the well will take in the order of
20 days to drill, to the prognosed total depth of 1,170 metres.
Any questions relating to this announcement should be directed to W.
Robert Annells (Chairman), or Mr Thomas Howitt (Company Secretary),
on Melbourne telephone (03) 9629 1566.
T G Howitt
COMPANY SECRETARY
ends - AAP
24-03 0000
Nigel McCarter
Safety Management and Information Services Ltd
Box 23 019 Hamilton
Phone 64 7 858 2429 Fax 64 858 2689
Mobile 02 212 4901

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