Lakes Blue Energy (ASX: LKO), an Australian oil and gas exploration company focused on developing low-risk, high-value energy projects, has announced that the Wombat-5 well in the Gippsland Basin, Victoria, has reached its planned total depth. According to the announcement released on September 23, 2025, the well has reached a depth of 3,052 metres.
The Wombat-5 side-track-2 (ST-2) well reached the proposed terminal depth with 1500m of horizontal hole drilled through the gas saturated interval at the top of the Strzelecki Formation. Drilling has ceased, and the contractor is preparing to run a 4-1/2” swellable packer completion into the hole. The company reports that further good quality, gas saturated sands were encountered with excellent gas shows of up to 1,791 units or 358,200 ppm (35.82%, C1 to C5) in good quality, fine to med grained sandstones.
These gas shows correlate to the best recorded sand packages encountered in the Wombat-3 well. Lakes Blue Energy’s Chair noted the board’s encouragement from the impressive gas shows in good quality sands in the final 200 metres of the well, particularly its proximity to Wombat-3. The announcement was authorised by the Board of Lakes Blue Energy.
