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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. The company encountered difficulties due to directional tool failures, leading to a deviation from the intended well path. To address this, a cement plug was set and the well was sidetracked to realign with the desired trajectory. As of the latest update, drilling is progressing towards the target formation, indicating a resolution to the earlier challenges.
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 engaged in drilling operations, particularly in the Gippsland Basin, Victoria, with an emphasis on enhancing its production capabilities.
Average Trading Volume: 304,217
Current Market Cap: A$77.16M
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