Wombat-5 Drilling Progress Update

Lakes Blue Energy NL (ASX: LKO) has released a drilling update on the Wombat-5 well in Victoria’s Gippsland Basin, reporting operational progress as of 8:00 am AEST today. The well, now on its sixth day since spud, has reached a depth of 1,036 mRT (measured depth), with 37 metres drilled in the past 24 hours using an 8-1/2” hole size. The last casing, 9-5/8”, was successfully set at 302.4 mRT, and drilling is currently progressing through the Latrobe Group towards the primary target, the Strzelecki Formation, anticipated at approximately 1,360 mRT true vertical depth.

The drilling contractor temporarily retrieved the directional bottomhole assembly to resolve an issue with the directional survey tool, which has since been corrected. Operations are now resuming to build inclination northeast towards the planned 7” casing point at around 1,548 mRT. The campaign continues without any health, safety, or environmental lost time incidents, reflecting smooth and controlled drilling progress.

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