• Wombat-3 high quality gas charged sands encountered on prognosis
• Gas shows up to 67.49% (C1 to C5) recorded in good quality sandstones
• Well remains in Wombat-3 sand package at current 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 on September 22, 2025, the well has reached a depth of 2,916 mRT MD (1,415 mRT TVD) with a horizontal length of 1,364m. The well continues to make good progress through the top of the Strzelecki Formation and is currently drilling past the Wombat-3 well, where the highest gas flow rates have been recorded previously from good quality sands. Excellent gas shows of up to 3,374 units or 674,900 ppm (67.49%, C1 to C5) were encountered in good quality fine to medium grained sandstones prior to reaching the Wombat-3 sand package. Further excellent gas shows of up to 3,256 units or 651,200 ppm (65.12%, C1 to C5) have been recorded since entering the Wombat-3 sand package at approximately 2,825 mRT MD, and the well remains in this sand package at its current depth. The 6-1/8' hole is intended to be drilled towards a total depth of approximately 3,050 mRT.