• Wombat-5 well, side-track-2 (ST-2) has reached a depth of 1,899 mRT MD and 1,399 mRT TVD
• The well is encountering excellent gas shows of up to 2,910 units or 581,000 ppm in good quality sands
• The Upper Strzelecki Formation continues to demonstrate gas saturation with extensive good quality sandstones

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 1,899 mRT MD and 1,399 mRT TVD, with a horizontal length of 347m. The well has progressed 320m in the past 24 hours and is currently drilling past the Wombat-2 well location. The well is encountering excellent gas shows, of 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 continues to demonstrate that it is gas saturated, with extensive good quality sandstones being intersected. As the well progresses towards the previously drilled Wombat-3 well, approximately 1,100 m away, further gas shows are expected.