Lakes Blue Energy NL

Lakes Blue Energy NL is an Australia-based company, which is engaged in the exploration for oil and gas within Australia and Papua New Guinea. The Company's projects include Nangwarry Carbon Dioxide Project, Gippsland, Queensland (ATP 1183), Otway-1, Portland Energy Project, PNG, and Pirie Torrens Oil and Gas Project. The Nangwarry Carbon Dioxide Project is 50% owned by the Company and is operated by Lakes Blue Energy. The project is centered on the Nangwarry-1 gas well, located within Petroleum Retention License 249 (PRL249) near Mt Gambier, South Australia. Through Gippsland, it focuses on Petroleum Retention Lease 2 (PRL2), within which the Wombat (100% LKO) and Trifon/Gangell (57.2% LKO) gas fields are located. The Company holds 100% of ATP 1183, which is located in the Roma Shelf area of Queensland. The Otway-1 gas well is a conventional, vertical well located within Petroleum Exploration Permit 169 (PEP 169) approximately 400 meters.