Wombat 5 Drilling Update Lakes Blue Energy

Lakes Blue Energy NL (ASX: LKO) has provided an update on the progress of drilling at the Wombat-5 side-track-2 (ST-2) well in the Gippsland Basin, Victoria. As of 8:00 am AEST, the well has reached a depth of 2,394 metres measured depth (MD) and 1,405 metres true vertical depth (TVD), with a horizontal section extending 842 metres. Over the past 24 hours, the well advanced 97 metres while drilling through the Strzelecki Formation, the current and target reservoir. Encouragingly, significant gas shows of up to 1,336 units, or 26.72% gas composition, have been recorded in fine to medium-grained sandstones, suggesting good reservoir quality.

The last casing was set at 1,549.1 metres MD, and the well is being drilled with a 6-1/8” hole size using a rotary steerable assembly, which encountered no resistance or debris, indicating stable wellbore conditions. Drilling operations continue toward the planned total depth of approximately 3,050 metres.

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