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Lakes Blue Energy NL (ASX:LKO)

ALERT: Price-sensitive ASX Announcement for LKO
Current share price for LKO : $0.340 -0.35 (-50.72%)+
Announcement
Release
30 Apr 2026 4:30PM
Price at Release
$0.690
Full Release
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Summary
Lakes Blue Energy NL reported its quarterly activities and cash flow for the period ending 31 March 2026. The company highlighted the advancement of the Wombat-5 production testing to the pressure build-up phase and confirmed gas flow from all zones. They are targeting drilling in the Portland Energy Project by the second half of 2026, pending regulatory approvals, and collaborating on the Nangwarry COâ‚‚ Project. The cash balance stood at $3.95 million with $1.74 million spent on operations, and no new external financing facilities were utilized. Additionally, $110,000 was paid in director remuneration, and the company strengthened its operational and technical teams.
Key Points
  • Lakes Blue Energy NL reported on its quarterly activities and cash flow for the period ending 31 March 2026.
  • The Wombat-5 production testing has advanced into the pressure build-up and data acquisition phase, with gas flow confirmed from all principal gas sand packages.
  • Lakes Blue Energy is progressing with the Portland Energy Project, targeting drilling in the second half of 2026 subject to regulatory approvals.
  • The Nangwarry CO2 Project is under technical and commercial evaluation with a collaboration with Maison Group Pty Ltd.
  • The company reported a cash balance of $3.95 million at the end of the quarter, with $1.74 million expended on operating activities.
  • $110,000 was paid to directors as remuneration under existing agreements, included in operating activities.
  • No new external financing facilities were utilized during the quarter.
  • The company continues to enhance its operational and technical capabilities with appointments in key roles.
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.