Published: September 21, 2018
The Victorian company had planned to explore for conventional gas as well as coal seam gas
A company part-owned by Australian mining magnate Gina Rinehart has failed to have the Victorian government’s fracking ban overturned or to be awarded $2.7bn in damages.
Between 2002 and 2013 two subsidiaries of Lakes Oil, of which Rinehart is the second-largest shareholder, obtained four exploration permits and two retention leases under Victoria’s Petroleum Act 1998. A retention lease grants the right to any petroleum discovered during the permit period.
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