LKO.ASX: Wombat-5 Well, Gippsland Basin, Victoria, Drilling Update

Wombat-5 Well, Gippsland Basin, Victoria, Drilling Update

Stock	LKO.ASX (LKO.ASX)
Release Time	26 Sep 2025, 9:46 a.m.
Price Sensitive	Yes

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Wombat-5 Well Drilling Update in Gippsland Basin

Key Points

Wombat-5 well has reached total depth of 3,052 mRT MD and 1,421 mRT TVD
Horizontal length of 1,500m drilled in Strzelecki Formation
High gas shows encountered in two sand intervals

Full Summary

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 total depth of 3,052 mRT MD and 1,421 mRT TVD, with a horizontal length of 1,500m drilled in the Strzelecki Formation. The well has encountered two good sand intervals with high gas shows (C1 to C5) in the Strzelecki Formation. The Board and Management have decided to complete the 900-metre interval with slotted casing and leave the lower 650 metres of the lateral as a barefoot completion. This completion strategy substantially reduces the risk, time, and expense of attempting to access and retrieve the stuck bottom hole assembly (BHA) at the bottom of the hole, while preserving the production capability of the first 900 metres and retaining potential for gas production from the lower, barefoot completion zone.