About 1 km down the Old Bungalow Road, off the Princess Highway 5km east of Lakes Entrance, Victoria stands a replica oil well, that represents the site of the first oil discovery in Australia. The well (Lake Bunga No. 1) was spudded in on the 25th July, 1924 by the Lakes Entrance Development Co. Oil was found at a depth of 325m in association with gas and ground water. The find sparked an intensi