With 2012 marking its 66th anniversary, Melbourne-based Lakes Oil NL is the oldest Australian oil and gas explorer still operating in the country. The company provides one of the few remaining links between the struggles to find and produce Australia’s first indigenous oil reserves during the early part of this century and the relative comfort of the nation’s near self-sufficiency in petroleum production during the 1990’s.

Lakes has also kept alive the pioneering spirit of a once larger band of optimistic junior explorers willing to tackle programs in which more cautious major companies have declined to take part.