Lakes Oil NL appointed Alexander Downer AC to the Board as a non executive director with immediate effect. Mr. Downer is the further nominee of the Hancock Prospecting Pty Ltd. subsidiary, Timeview Enterprises Pty Ltd. Mr. Alexander Downer had a long and distinguished political career spanning 23 years, including serving as the Leader of the Opposition from 1994 to 1995 and Foreign Minister of Australia from 1996 to 2007. Prior to entering parliament, he held a number of senior positions in government and the private sector.

Mr. Downer has a Bachelor of Arts (Honours) in Politics and Economics and is a Doctor of Civil Laws (honoris causa). He also holds a Doctor of Philosophy from Bar Ilan University. Since retiring from politics, Mr. Downer has applied himself to many commercial and cultural pursuits, including being a visiting professor at Adelaide University, a Special Adviser to the United Nations Secretary General, as partner in his strategic advisory firm Bespoke Approach, as well as sitting on a number of boards.