Let's start with a few words from the review that got me interested in seeing the film right away... (so I did about 30 minutes ago)
Lake Mungo is an Australian production (from 2008 but included in this year's Horrorfest) that is a surprisingly effective venture into the exhaustive realm of "found footage" films genre lovers have been bombarded with in the last several years...
Now my opinion... this is one of the best horror films I've seen this year. It reminds me of Norman Partridge's novel SLIPPIN' INTO DARKNESS in someways. Yes it's a ghost story but its also an inner haunting as well. This movie is clever, subtle and it really got under my skin.
I recommend it.