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Lakes Blue Energy Raises $6.5M to Drill Wombat 5 Amid Looming Gas Shortage
12:51pm on Tuesday 17th of June, 2025 AEST
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Energy
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Lakes Blue Energy Raises $6.5M to Drill Wombat 5 Amid Looming Gas Shortage
12:51pm on Tuesday 17th of June, 2025 AEST
Key Points
Placement raises $6.5 million in two tranches
Funds to fully finance Wombat 5 drilling and working capital through June 2026
Pro forma cash balance to reach approximately $9.4 million post-placement
Wombat 5 targets high-quality, low-emission gas in Gippsland Basin
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