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Lakes Blue Energy Secures $6.5m from PEP 169 Sale, Eyes Wombat-5 Drilling
7:03pm on Monday 2nd of June, 2025 AEST
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Energy
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Lakes Blue Energy Secures $6.5m from PEP 169 Sale, Eyes Wombat-5 Drilling
7:03pm on Monday 2nd of June, 2025 AEST
Key Points
Final $3.5m payment received, completing $6.5m sale of 49% interest in PEP 169
Lakes to earn approximately 4% royalty on future petroleum production from PEP 169
Sale proceeds to fund drilling of Wombat-5 well in PRL 2, Gippsland Basin
Liability for pre-existing royalty transferred to new owner Armour Energy
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