About

Lakes Blue Energy (ASX: LKO) is an Australian oil and gas exploration company focused on the development of conventional gas resources across key onshore basins in Victoria, Queensland, South Australia, and offshore in Papua New Guinea.

The Company’s primary focus is the Wombat Gas Field, located in Victoria’s onshore Gippsland Basin, which hosts a certified 2C contingent resource of 329 BCF. Together with the adjacent Trifon and Gangell fields, the combined resource totals 719 BCF. Drilling of the Wombat-5 well commenced in August 2025.

Elsewhere, Lakes holds 100% of the Portland Energy Project in southwest Victoria, targeting conventional gas within the Eumeralla Formation; 100% of ATP 1183 in Queensland, which includes multiple oil and gas prospects; and 100% of PPL 560 in Papua New Guinea, which contains the 590MBBOE Buna Prospect. In South Australia, the Company holds a 50% operating interest (net 46.76%) in PRL 249, which hosts the Nangwarry carbon dioxide resource, flow tested at up to 18.6 MMscfd. Lakes also retains overriding royalty interests in PEP 169 (Victoria) and future royalty exposure from the Pirie Torrens Project in South Australia, under an agreement with Gehyra Flux Pty Ltd.

With a long operating history and experienced technical leadership, Lakes Blue Energy is focused on unlocking the value of underdeveloped, infrastructure-connected energy resources to support Australia’s domestic gas supply.

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Our vision is to be a leading supplier of sustainable, reliable and affordable energy to meet the needs of Australian industry and households.

Lakes Blue Energy is focused on developing assets that are infrastructure-connected, commercially viable, and capable of supporting long-term domestic energy requirements. Through disciplined exploration and development, the Company aims to bring underdeveloped gas resources to market responsibly and efficiently to help strengthen Australia’s energy security.