Wombat-5 Well, Gippsland Basin, Victoria Drilling Update

• Drilling operations ongoing at Wombat-5 well, side-track-2 (ST-2)
• Well drilled to 1,256 mRT with 14 m progress in last 24 hours
• Slow penetration rate due to clays packed around drill bit and stabilizer

The Board of Lakes Blue Energy has provided an update on the drilling operations at the Wombat-5 well, side-track-2 (ST-2), in the Gippsland Basin, Victoria. As of 8:00 am AEST today, the well has reached a depth of 1,256 mRT (measured depth), with a progress of 14 m in the last 24 hours. The well has built an inclination of approximately 24° before the drilling rate was greatly reduced due to suspected bit or stabilizer balling caused by the claystones. The contractor is now picking up a new directional bottomhole assembly and running it back into the hole. The existing assembly was pulled from the hole to change the drill bit due to the slow penetration rate. Once at the surface, it was confirmed that clays were packed off around both the bit and the stabilizer. The target formation for the well is the Strzelecki Formation, with a target depth of 1,360 mRT (true vertical depth). The company has reported no lost-time injuries (LTIs) during the drilling operations so far.