• Drilling operations at Wombat-5 well, side-track-2 (ST-2) in Gippsland Basin, Victoria
• Current depth of 1,394 mRT with 165 m progress in the last 72 hours
• Preparing to run back into the hole after changing out downhole motor and drill bit due to slow penetration rate

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 1,394 mRT (measured depth) after 31 days of drilling, with 165 m of progress in the last 72 hours. The company is currently preparing to run back into the hole after changing out the downhole motor and drill bit due to a slow penetration rate. A mechanical failure, caused by human error, occurred while pulling the drill string from the hole, which delayed the change-out while repair work was completed. The new directional Bottom Hole Assembly will be run into the hole to drill ahead at an 8-1/2' diameter to the 7' casing point. The top of the target Strzelecki Formation is expected to be encountered within the next 20 metres, and the well is currently at 53 degrees inclination.