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Lakes Blue Energy NL ( (AU:LKO) ) has shared an update.
Lakes Blue Energy NL has provided an update on its drilling operations at the Wombat-5 well in the Gippsland Basin, Victoria. The well has been successfully drilled through the Latrobe Group to a depth of 1,099 meters, and preparations are underway to drill the horizontal production hole through the Strzelecki Formation. This progress marks a significant step in the company’s operational plans, potentially impacting its production capabilities and industry positioning.
More about Lakes Blue Energy NL
Lakes Blue Energy NL operates in the energy sector, focusing on exploration and development of oil and gas resources. The company is engaged in drilling operations primarily in the Gippsland Basin, Victoria, with a market focus on enhancing energy production capabilities.
Average Trading Volume: 335,674
Current Market Cap: A$77.45M
Learn more about LKO stock on TipRanks’ Stock Analysis page.