Lakes Blue Energy (ASX: LKO), an Australian energy company focused on gas exploration and development, today announced an update on drilling operations at the Wombat-5, side-track-2 (ST-2) well in the Gippsland Basin, Victoria. As of 8:00 am AEST on September 11, 2025, the well has been drilling for 41 days and reached a current depth of 1,899 metres below the rotary table measured depth (mRTMD) and 1,399 mRT true vertical depth (TVD). The horizontal length is 347 metres, with a 24-hour progress of 320 metres.
The well continues to be drilled horizontally through the Upper Strzelecki Formation. Over the past 24 hours, the well has progressed 320m, drilling past the Wombat-2 well location. The company reported encountering excellent gas shows, up to 2,910 units or 581,000 ppm (C1 94.2%, C2 4.0%, C3 1.3%, C4 0.4%, C5 0.1%), in good quality sands.
The Upper Strzelecki Formation is demonstrating extensive, good quality sandstones saturated with gas. Lakes Blue Energy anticipates further gas shows as the well progresses towards the previously drilled Wombat-3 well, approximately 1,100 metres away. The announcement was authorised by the Board of Lakes Blue Energy.
