Lakes Blue Energy (LKO), an ASX-listed company focused on gas exploration and development, has provided an update on drilling operations at the Wombat-5 well, located in the Gippsland Basin, Victoria. As of 8:00 am AEST on August 5, 2025, the well has been drilling for four days and has reached a current depth of 920 metres below the rotary table (mRT). The drilling has progressed 558 metres in the last 24 hours, with an 8-1/2” hole size. The last casing point was 9-5/8” set at 302.4 mRT.
The well is currently drilling vertically through the Latrobe Group formation, en route to the target Strzelecki Formation. The target formation depth is 1360 metres true vertical depth (TVD). No lost time injuries (LTIs) related to health, safety, and environment (HS&E) have been recorded.
The company plans to conduct a wiper trip back to the 9-5/8” casing shoe at approximately 1100 mRT, before returning to the bottom and commencing a kick-off to the northeast. This kick-off is intended to build inclination to 88° at the 7” casing point, estimated at approximately 1392 mRT (TVD). The announcement was authorised by the Board of Lakes Blue Energy.
For further information, individuals may contact Chairperson Roland Sleeman at +61 3 9629 1566.
