Lakes Blue Energy

NewPeak is strategically positioned as the largest shareholder of Lakes Blue Energy NL (ASX: LKO), holding approximately 17% of the oil and gas company.

Lakes Blue Energy is a leader in advancing sustainable energy solutions across Australia and is preparing to drill the Wombat-5 well in Victoria’s gas-rich Wombat Gas Field. The company is actively exploring opportunities in Queensland, South Australia, and Papua New Guinea, focusing on enhancing regional energy supplies and tapping into significant hydrocarbon reserves. Additionally, Lakes is pioneering Compressed Air Energy Storage (CAES) technology as a reliable alternative to battery storage, driving innovation toward a greener future. Below are details about Lakes Blue Energy's projects:

Victoria
Lakes Blue Energy is set to drill the Wombat-5 well in the gas-rich Wombat Gas Field, targeting the Strzelecki Formation. The well is expected to flow at 10 TJ/day, promising fast, low-cost gas production to address Victoria’s energy shortfall, with an estimated total output of 20 PJ/year. Located near existing infrastructure, the field could become operational within 18 months. Lakes also has strategic interests in the Portland Energy Project and the Enterprise North prospect, both of which have significant potential to bolster eastern Australia’s gas supply.

Queensland
In Queensland, Lakes Blue Energy owns 100% of ATP 1183 in the Roma Shelf, situated near established gas processing infrastructure at Silver Springs and Kincora. The project features multiple exploration prospects with significant resource potential. After completing its Victorian exploration program, the company plans to resume activities at ATP 1183, which will include an iodine survey and a potential 3D seismic survey to better define the Wellesley Dome structure for future drilling, further developing the company’s Queensland oil and gas resources.

South Australia
Through its subsidiary Otway Energy, Lakes Blue Energy holds a 46.76% interest in the Nangwarry Carbon Dioxide Project in South Australia. This high-purity CO₂ resource (90%+) is poised to supply industrial, medical, and food-grade carbon dioxide, with the potential to produce up to 150 tonnes per day. Additionally, Lakes has royalty agreements for its Pirie Torrens Project, which explores hydrogen, helium, and petroleum across 53,000 km², offering significant upside potential. These projects position Lakes Blue Energy as a key player in Australia’s emerging energy and CO₂ markets.

Papua New Guinea
Lakes Blue Energy owns 100% of three exploration tenements in Papua New Guinea, with Petroleum Prospecting Licence 560 (PPL 560) being the key asset. This licence encompasses the multi-trillion cubic feet Buna prospect, where TotalEnergies conducted geological and geophysical studies, indicating potential oil-prone resources. Although Total opted not to pursue 3D seismic acquisition, Lakes is exploring options to advance the Buna project, which holds significant oil and gas potential in one of the world’s last under-explored hydrocarbon frontiers.

Forward Thinking
Lakes Blue Energy is dedicated to advancing sustainable energy solutions that are technologically proven, reliable, and cost-competitive. One promising technology being explored is Compressed Air Energy Storage (CAES), which leverages existing technologies from the upstream petroleum industry to provide a reliable and cost-effective alternative to battery storage.

CAES works by storing compressed air in wellbores during off-peak periods, allowing for energy harnessing when renewable sources like wind and solar are unavailable. Following the development of the Wombat gas project, Lakes Blue Energy plans to explore CAES potential in Victoria, starting with trial and demonstration facilities before scaling to full operation. Join us in leading the charge toward sustainable energy innovation.

Visit their website to learn more: Lakes Blue Energy.

For more information, please contact us at info@newpeak.com.au