Drilling Progress Update on Wombat-5 Well in Gippsland Basin.

Lakes Blue Energy (ASX: LKO) has provided an operational update on the Wombat-5 side-track-2 well in the Gippsland Basin, Victoria. The well has reached a measured depth of 2,297mRT, with 745m of horizontal length drilled and casing set at 1,549.1mRT MD. The well is currently within the Strzelecki Formation, the target zone, which lies at 1,410mRT MD. Recent adjustments brought the inclination back to 87.2°, ensuring accurate intersection of reservoir sands observed in Wombat-3.

Encouraging gas shows of up to 9.16% (C1–C5 hydrocarbons) were encountered during these corrections, confirming the presence of hydrocarbons. The wellbore remains in good condition, with no debris or resistance noted during equipment changes. A rotary steerable assembly will now be deployed to advance drilling towards the planned total depth of approximately 3,050mRT. Safety performance remains strong, with no lost-time injuries reported.

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