Wombat-5 Drilling Operations Update - Gippsland Basin

Lakes Blue Energy NL (ASX: LKO) has provided a progress update on drilling activities at the Wombat-5 well (side-track-2) located in Victoria’s Gippsland Basin. As of 8:00 am AEST, the operation has been underway for 28 days, with the well currently drilled to a depth of 1,259 mRT (measured depth). The most recent casing installation was a 9-5/8” casing set at 302.4 mRT. Drilling is advancing through the Latrobe Group formation, with the primary target being the Strzelecki Formation, expected at around 1,360 mRT (true vertical depth).

The project continues to maintain a zero lost-time injury record, underscoring its focus on safe operations. A temporary delay in drilling was traced to a failure in the downhole mud-motor rather than obstruction at the bit. With the faulty tool now replaced, the contractor has recommenced work, running back into the 8-1/2” section to continue towards the planned 7” casing depth. This progress marks a steady step forward in achieving the well’s drilling objectives.

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