GINA Rinehart has poured some of her iron ore riches into efforts by hardy explorer Lakes Oil to unlock the unconventional gas potential of the onshore Gippsland Basin in eastern Victoria.

Her Hancock Prospecting pumped $4.25 million into Melbourne-based Lakes by taking up a placement of converting notes from the shortfall to Lakes' recent capital raising, giving the iron ore baroness an 18.6 per cent (diluted) interest in Lakes.

Source: The Australian