Queensland

Roma Shelf Oil and Gas Project | ATP 1183
Surat Basin, Queensland | 100% owned

Lakes Blue Energy holds 100% ownership of Authority To Prospect (ATP) 1183, located in Queensland’s Surat Basin. The permit lies within the Roma Shelf region and is situated near existing oil and gas infrastructure and processing facilities, including those at Silver Springs (AGL) and Kincora (ADZ Energy). This proximity provides potential pathways for future development and commercialisation of any discoveries.

ATP 1183 contains multiple oil and gas exploration targets across both structural and stratigraphic plays. Key prospects within the permit area include Wellesley, Riverslea Updip, Major, Emu Apple, and Bendee, with economic ultimately recoverable resource potential summarised below:

Prospect	Potential (Economic Ultimately Recoverable)
Emu Apple	1.3 MMBbl oil
Riverslea Updip	7.5 MMBbl oil across 17 targets
Major	8.5 Bcf gas across 5 targets
Bendee	0.2 MMBbl oil
Wellesley	85 – 112 Bcf gas across 18 targets

Table: Resource Potential of ATP 1183 Exploration Prospects

The Company plans to resume exploration activity in Queensland following the completion of its near-term Victorian drilling program. At the Wellesley Prospect, Lakes is considering the use of an iodine soil gas survey to assist in the design of a targeted 3D seismic program. This would aim to refine the structural definition of the Wellesley Dome and guide the selection of future drilling locations.

ATP 1183 remains a strategic exploration asset, offering large-scale conventional targets within a proven hydrocarbon province, and supported by nearby infrastructure and established field operations.