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Lakes Blue Energy NL ( (AU:LKO) ) has shared an update.
Lakes Blue Energy NL has announced further developments in its drilling operations at the Wombat-5 well in the Gippsland Basin, Victoria. The company reported initial natural gas shows, including methane, ethane, and propane, as drilling progresses into the Strzelecki Formation. These findings are consistent with previous successful wells, indicating potential for significant gas production. The drilling is expected to continue, with the company anticipating increased gas shows, which could enhance its operational capabilities and market positioning in the energy sector.
More about Lakes Blue Energy NL
Lakes Blue Energy NL operates in the energy sector, focusing on the exploration and production of natural gas. The company is engaged in drilling operations primarily in the Gippsland Basin, Victoria, with a market focus on developing gas reserves in this region.
Average Trading Volume: 259,692
Current Market Cap: A$88.77M
See more insights into LKO stock on TipRanks’ Stock Analysis page.