Lakes Blue Energy (ASX: LKO) has released an update on drilling operations at the Wombat-5 well in the Gippsland Basin, Victoria. Lakes Blue Energy is an ASX-listed company focused on exploration and development of natural gas resources. As of 8:00 am AEST this morning, the well has been drilling for seven days since spud.
The current depth of the well is 1,207 metres below the rotary table (mRT), with 71 metres of progress made in the last 24 hours. The hole size is 8-1/2”, and the last casing point was a 9-5/8” set at 302.4 mRT. The well is currently drilling through the Latrobe Group formation, with the target formation being the Strzelecki Formation.
Drilling operations involved running back to bottom after changing the directional bottomhole assembly. The hole was drilled from 1,136 m to 1,207 m, building inclination out to the northeast towards the 7” casing point at approximately 1,548 mRT. The target formation depth is 1,360 mRT true vertical depth (TVD). No lost time injuries (LTIs) have been recorded to date.
The announcement was authorised by the Board of Lakes Blue Energy. For further inquiries, contact Chairperson Roland Sleeman at +61 3 9629 1566.
