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An update from Lakes Blue Energy NL ( (AU:LKO) ) is now available.
Lakes Blue Energy has reported promising progress in its drilling operations at the Wombat-5 well in the Gippsland Basin, with significant gas shows encountered in the Strzelecki Formation. The recent findings, including high gas shows of up to 67.49%, support the company’s hypothesis about the gas potential of the formation, which could lead to a viable commercial development proposition, enhancing the company’s market position and offering potential benefits to stakeholders.
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, particularly in the Gippsland Basin, Victoria, aiming to harness gas from formations like the Strzelecki Formation to provide commercial development opportunities for its shareholders.
Average Trading Volume: 259,692
Current Market Cap: A$88.77M
For detailed information about LKO stock, go to TipRanks’ Stock Analysis page.