Lakes Blue Energy’s Wombat-5 still has gas, but commerciality remains out of reach

• FY26 net loss of $19.67 million, including a $13.40 million exploration asset impairment
• Wombat-5 confirmed gas contribution from three sand packages but did not establish commercial deliverability
• Year-end cash fell to $433,804 and the auditor flagged material going-concern uncertainty
• Approximately $6.7 million was raised after year end, with a further $2.0 million entitlement-offer shortfall