Lakes Blue Energy Advances Wombat Project

Lakes Blue Energy NL (AU:LKO) has released an update.

Lakes Blue Energy NL has executed a sale agreement for their 49% interest in the Petroleum Exploration Permit 169, with an initial payment of $3 million to be received soon and another $3.5 million upon title transfer. This deal will fund the commercialization efforts for the Wombat project, with preparations for drilling the Wombat-5 well already underway and targeted for the second quarter of 2025.

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