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An announcement from Lakes Blue Energy NL ( (AU:LKO) ) is now available.
Lakes Blue Energy NL has provided an update on its Wombat-5 well drilling operations in the Gippsland Basin, Victoria. The company has successfully reamed and cleaned out a section of the well, encountering high gas shows in the Strzelecki Formation. The decision to complete the interval with slotted casing while leaving a portion as a barefoot completion aims to reduce risks and costs associated with retrieving a stuck bottom hole assembly, while maintaining production potential. This strategic move is expected to enhance the company’s operational efficiency and gas production capabilities.
More about Lakes Blue Energy NL
Lakes Blue Energy NL operates in the energy sector, focusing on the exploration and development of natural gas resources. The company is engaged in drilling operations to harness gas reserves, primarily in the Gippsland Basin, Victoria.
Average Trading Volume: 270,302
Current Market Cap: A$84.19M
Find detailed analytics on LKO stock on TipRanks’ Stock Analysis page.