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Lakes Blue Energy NL ( (AU:LKO) ) just unveiled an announcement.
Lakes Blue Energy NL has provided an update on its drilling operations at the Wombat-5 well in the Gippsland Basin, Victoria. The drilling has reached a depth of 2,394 meters with no resistance or debris encountered, indicating good hole conditions. Significant gas shows have been detected in the Strzelecki Formation, with drilling expected to continue towards a total depth of approximately 3,050 meters. This progress may enhance the company’s operational capabilities and strengthen its position in the energy sector.
More about Lakes Blue Energy NL
Lakes Blue Energy NL operates in the energy sector, focusing on the exploration and development of oil and gas resources. The company is primarily engaged in drilling operations and aims to expand its market presence through successful exploration activities.
Average Trading Volume: 246,798
Current Market Cap: A$88.77M
For detailed information about LKO stock, go to TipRanks’ Stock Analysis page.