Lakes Blue Energy September 2025 Quarterly Activities Report Summary.

Lakes Blue Energy (ASX: LKO) marked a transformational quarter with reinstatement to ASX quotation on 4 July 2025, completion of a successful AU$5.8 million capital raise, and drilling of the Wombat-5 well at its wholly owned Gippsland Basin project. The well achieved a total depth of 3,052 metres, intersecting multiple gas-rich sandstone reservoirs within the Strzelecki Formation and recording gas concentrations up to 67.5%. Production testing, set for mid-November 2025, aims to confirm gas flow potential and reclassify contingent resources into reserves.

The company ended the quarter with AU$9.57 million cash and is positioned to become a near-term domestic gas supplier amid tightening east coast supply. Additionally, Lakes advanced its Nangwarry CO₂ Project through a partnership with Maison Group to explore commercialisation opportunities in the industrial gas sector, enhancing its diversified energy portfolio and long-term growth outlook.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com