• LKO has engaged in discussions with Victorian Government departments about the strategic role of the Wombat Gas Field.
• Two briefing papers outline potential economic and infrastructure benefits of the Wombat Project.
• Preliminary studies suggest a potential NPV10 of A$605 million and 58% IRR with first gas targeted for Q1 2029.

Lakes Blue Energy has engaged in discussions with several Victorian Government departments regarding the potential role of the Wombat Gas Project in supporting Victoria's future energy requirements and emerging artificial intelligence and data infrastructure sectors. The discussions have focused on the potential contribution of the Wombat Project to improving domestic gas supply security in Victoria, supporting firm energy requirements associated with artificial intelligence and data centre developments, assisting regional development in Gippsland, complementing Victoria's renewable energy transition objectives, and supporting future industrial, digital, and energy infrastructure requirements. Lakes has prepared two briefing papers outlining potential development opportunities associated with the Wombat Project. The first paper considers projected Victorian gas supply shortfalls identified in market forecasts and outlines how future production from the Wombat Project may contribute to domestic gas supply. The second paper has been prepared at the request of Development Victoria and examines the potential role of the Wombat Project in supporting future AI-related infrastructure opportunities, including the possible development of integrated energy and data infrastructure projects in Gippsland. Lakes emphasises that these discussions remain preliminary and do not constitute any agreement, commitment, endorsement, funding arrangement, or development approval by the Victorian Government, Development Victoria, or any other government agency.

NPV10: A$605 million, IRR: 58%, first gas: Q1 2029

Lakes believes that the Wombat Gas Project has the potential to contribute to future domestic gas supply requirements in Victoria and support firm energy generation requirements associated with future data centre developments and AI-related infrastructure projects.