• Drilling of Wombat-5 side-track 2 well ongoing in Gippsland Basin, Victoria
• Significant gas shows encountered in good quality sandstones
• Well currently at 2,273 meters measured depth, with 777 meters remaining to target depth

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 measured depth of 2,273 meters, with 721 meters of horizontal length drilled. The well has encountered further significant gas shows of up to 1,565 units or 310,000 ppm (31% gas, comprising C1 to C5) in good quality, medium grained sandstones. There remains 777 meters to be drilled to reach the target total depth of approximately 3,050 meters. The bottom hole assembly, incorporating a downhole motor, was run into the hole to clear out any suspected debris and get the wellbore back onto the desired well path. No debris was found, and the hole was seen to be in good condition. The contractor has resumed drilling from 2,200 meters measured depth while dropping inclination to get the wellbore back onto the desired well path.