Feb 14 (Reuters) - Lakes Oil Nl LKO.AX -
* Partially underwritten non-renounceable entitlement offer
* Launched entitlement issue of 1 ordinary share (share) for each 4 eligible securities held by eligible to raise up to $12.6 million
* Proceeds of offer will be used to fund exploration costs, a loan repayment, litigation proceedings against Victorian government Source text for Eikon: ID:nASX1G8YCb Further company coverage: LKO.AX