Lakes Blue Energy Progress Update on Wombat-5 Well Drilling.

Lakes Blue Energy (ASX: LKO) has released an operational update on the Wombat-5 ST-1 well in the Gippsland Basin, Victoria. As of day 15 since spud, the well stands at a depth of 1,091 mRT within the Latrobe Group formation, with the target Strzelecki Formation located at 1,360 mRT. Drilling progress over the past 24 hours was halted due to a stuck drill-string. Equipment is now onsite to sever the drill-string above the sticking point, allowing removal of the free section.

A cement plug will then be installed before sidetracking operations commence to bypass the stuck section. Pending a contractor’s report on the mud pump failure, drilling will proceed toward the 7” casing point at about 1,548 mRT. No health, safety, or environmental incidents have been reported during operations. This approach aims to ensure safe and efficient progress toward the well’s drilling objectives.

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