Lakes Oil NL announced that Mr. William Stubbs, Non-Executive Director, has retired as a Director of the Company with effect from the conclusion of 2018 Annual General Meeting held on November 13, 2018 as a result of Mr. Stubbs scaling back his involvement in public companies in order to pursue other interests. In conjunction with Mr. Stubbs retirement Mr. Roland Sleeman, being Mr. Stubbs Alternate Director, automatically resigns from his role on the Lakes Oil Board but will remain as Chief Executive Officer of the Company.