• Well drilled 570m horizontally through Upper Strzelecki Formation
• Encountered further gas shows up to 1,410 units or 282,000 ppm
• Good quality sands with strong flow capabilities

Lakes Blue Energy has provided an update on the drilling progress of the Wombat-5 well, side-track-2 (ST-2), in the Gippsland Basin, Victoria. As of 8:00 am AEST today, the well has been drilled to a depth of 2,122 mRT MD, with a horizontal length of 570m. Over the past 24 hours, the well progressed 223m, continuing to be drilled horizontally through the Upper Strzelecki Formation. The well has encountered further gas shows of up to 1,410 units or 282,000 ppm (C1 94.8%, C2 3.9%, C3 1%, C4 0.2%, C5 0.1%) in good quality sands that exhibit strong flow capabilities. The contractor is currently pulling out of the hole to inspect the drill bit and bottom hole assembly due to minor discrepancies in the well direction. The Upper Strzelecki Formation continues to demonstrate that it is gas-saturated, with further extensive good quality sandstones being intersected.