Dec 12 (Reuters) - Lakes Oil NL LKO.AX :
* LAKES OIL NL ANNOUNCES CAPITAL RAISING OF UP TO $6.03 MILLION (BEFORE COSTS) VIA A TRANCHED ISSUE OF UNLISTED CONVERTIBLE NOTES
* PROCEEDS FROM PLACEMENT WILL BE USED TO FUND ONGOING COSTS OF DRILLING NANGWARRY-1 WELL , AMONG OTHER THINGS