
One of the last ‘freaks’ of Australian natural history to come to the attention of European science was Ceratodus, the Queensland lungfish (known today as Neoceratodus forsteri). It normally breathes through gills like other fish, but, when the oxygen levels in the water fall, it can rise to the surface and gulp air straight into its lung, an organ that other fish do not possess. The Australian lungfish is unlike lungfish in Africa and South America, in that it can live both underwater and on land. Fish with lungs were known only as fossils in the northern hemisphere at the time of the naming of Ceratodus, so the Queensland specimen was immediately dubbed a ‘living fossil’.
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Ceratodus (The Queensland Lungfish)
Chapter 7. The platypus frontier: eggs, Aborigines and empire in 19th century Queensland
http://press-files.anu.edu.au/downloads/press/p109431/mobile/ch07s02.html