• Three gas-bearing zones confirmed across ~1,500 metre horizontal section
• Pressure build-up continues to 1,800 PSI, data provides reservoir insight
• Clear forward program defined, targeting late August 2026 commencement
• Wombat 3D seismic reprocessing underway, preliminary results positive

Lakes Blue Energy NL (ASX: LKO) has reported significant progress in its production testing operations at the Wombat-5 gas well. Drilling encountered three strong gas zones within a 1,500 metre horizontal section, with gas shows ranging from methane to pentane. The pressure build-up phase has reached 1,764 psi (12.2 MPa), indicating a gas-charged system. The company has identified a minimum of 237 metres of high-quality gas-bearing sands behind casing. A forward program is planned, including propellant enhanced perforating over the highest quality gas-bearing sands, aiming to enhance well productivity and achieve commercial gas flowrates. The next phase of operations is targeted for late August 2026, subject to regulatory approvals. Additionally, Wombat 3D seismic reprocessing with Geomage Ltd is underway, with preliminary results showing significant improvements in subsurface imaging.

Lakes Blue Energy plans to commence the next phase of testing in late August 2026, aiming to enhance well productivity and achieve commercial gas flowrates. The company is also advancing its seismic reprocessing to improve subsurface imaging.