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Lakes Blue Energy NL (ASX:LKO)

ALERT: Price-sensitive ASX Announcement for LKO
Current share price for LKO : $0.520 -0.725 (-58.23%)+
Announcement
Release
8 Sep 2025 10:13AM
Price at Release
$1.245
Full Release
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Summary
Lakes Blue Energy NL announced a drilling update for the Wombat-5 well in the Gippsland Basin, Victoria, stating the well has reached a depth of 1,552 meters. The well is targeting the Strzelecki Formation, which is the gas resource reservoir host. Increasing natural gas shows, consisting of methane, ethane, propane, butane, and pentane, have been recorded, aligning with previous drilling data from Wombat-2 and Wombat-3. The company plans to drill a 1,500-meter horizontal well to a total depth of 3,050 meters. The update was authorized by the company's board on 8 September 2025.
Key Points
  • Lakes Blue Energy provided a drilling update for Wombat-5, side-track-2 (ST-2) in the Gippsland Basin, Victoria.
  • The well has been drilled to a depth of 1,552 mRT MD and has progressed 82 meters from the previous day.
  • The current formation is the Strzelecki Formation, which is the target formation and gas resource reservoir host.
  • Gas shows, including methane, ethane, propane, butane, and pentane, were recorded in increasing quantities.
  • The natural gas shows are consistent with previous evidence from Wombat-2 and Wombat-3 wells.
  • The aim is to drill a 1,500-meter horizontal well to a target depth of 3,050 mRT MD.
  • The announcement was authorized by the Board of Lakes Blue Energy.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.