Maybe.
First we'd have to figure out if Lobo is either a bad guy or a nuetral force of nature as intended by his created or just crazy.
For the penence stare to work, Lobo would have to be either evil or choose to do bad things, the PS won't work on insane people or innocent people.
So if Lobo is crazy or innocent via force of nature, he'd just beat Ghosty down.
If he IS evil, then Lobo is fried.
Originally posted by EsteemedLeader
lobo killed the deliverer when he was born, and exterminated his entire planets population when he was a kid and kills people for fun. and to take word from a higher force, the OFFICIAL dc comics encyclopedia states he is a villain.
Though to his credit, God got lots of lulz over his antics.