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Lakes Blue Energy Advances with $6.5M Asset Sale and Wombat-5 Drilling Plans
6:33pm on Sunday 1st of June, 2025 AEST
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Energy
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Lakes Blue Energy Advances with $6.5M Asset Sale and Wombat-5 Drilling Plans
6:33pm on Sunday 1st of June, 2025 AEST
Key Points
Completed $6.5 million sale of 49% interest in PEP 169 to Armour Energy
Quarterly operating expenditure of $1.5 million including $0.3 million on exploration
Closing cash balance boosted to $5 million after sale proceeds received
Wombat-5 well drilling approval targeted for March 2025 with rig negotiations underway
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