Gina Rinehart Joins Oil Bandwagon, Invests $4.4 Million in Lakes Oil

Comment

Shutterstock photo

For 2013, oil and gas seem to be the "in" resource in Australia, while iron ore and coal are "out." Even Gina Rinehart, Australia's richest person, is jumping into the oil bandwagon by investing $4.25 million in Lakes Oil (ASX: LKO) by purchasing the company's unsecured notes.

The bulk of the $6.3 million notes issued by Lake Oil were bought by a subsidiary of Hancock Prospecting, owned by Ms Rinehart, Lake Oil reported to the Australian Stock Exchange on Tuesday.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Commodities


More from International Business Times

Subscribe






International Business Times
Contributor:

International Business Times


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com