Lakes Blue Energy Expands with Full Field Ownership

Lakes Blue Energy NL (AU:LKO) has released an update.

Lakes Blue Energy N.L. has solidified its position in the energy sector by acquiring complete ownership of the Trifon/Gangell Gas Fields, boosting their certified contingent gas resources to a substantial 719 billion cubic feet. The company achieved this by settling terms with Jarden Corporation, including a forgiveness of debt and a capped royalty agreement. This strategic move paves the way for Lakes Blue Energy to focus on commercializing these assets and integrating them into a long-term production strategy.

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