• Wombat-5 well, side-track-2 (ST-2) drilling operations update
• Current depth of 1,408 mRT (MD) reached, with 24-hour progress of 14 m
• Contractor repairing mud pump issue, drilling to resume towards 7' casing point

The Board of Lakes Blue Energy is pleased to provide 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 1,408 mRT (MD), with a 24-hour progress of 14 m. The well is currently being drilled with an 8-1/2' directional bottom-hole assembly (BHA) towards the 7' casing point, which is expected to be encountered in approximately 130 metres. The contractor is currently repairing one of the mud pumps after an issue was noted while the well was drilling ahead. After running back to the bottom of the hole at 1,394 mRT (MD), the contractor resumed drilling, but the mud pump issue has caused a temporary pause in operations. The top of the Strzelecki Formation, the target formation, is expected to be encountered in the next 10 metres of drilling. The company remains focused on safely and efficiently completing the drilling operations at the Wombat-5 well.