Announcement • Oct 30
Lakes Blue Energy NL, Annual General Meeting, Nov 30, 2023 Lakes Blue Energy NL, Annual General Meeting, Nov 30, 2023, at 11:01 AUS Eastern Standard Time. Location: Piper Alderman, Level 23, Governor Macquarie Tower, 1 Farrer Place Sydney New South Wales Australia Agenda: To receive and consider the Annual Financial Report of the Company and its controlled entities for the year ended 30 June 2023; to consider and approve the remuneration report; to consider and approve the election of Director; to consider and approve to issue of shares; to consider and approve the consolidation of capital; and to consider and approve for additional share placement capacity. Board Change • Sep 08
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Aug 17
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jul 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Jun 30
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Feb 23
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Board Change • Nov 29
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. No independent directors (3 non-independent directors). CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Oct 25
Lakes Blue Energy NL, Annual General Meeting, Nov 25, 2022 Lakes Blue Energy NL, Annual General Meeting, Nov 25, 2022, at 14:00 AUS Eastern Standard Time. Location: Piper Alderman Level 23, Governor Macquarie Tower 1 Farrer Place Sydney Nsw 2000 New South Wales Australia Agenda: To receive and consider the Annual Financial Report of the Company and its controlled entities for the year ended 30 June 2022 which includes the Financial Report and the Directors' and Auditor's Reports; to consider remuneration report; to consider re-election of Mr. Richard Ash; to consider ratification of prior issue - shares; to consider ratification of prior issue - convertible notes; and to consider other matters if any. Announcement • Oct 02
Lakes Blue Energy NL Auditor Raises 'Going Concern' Doubt Lakes Blue Energy NL filed its Annual on Sep 30, 2022 for the period ending Jun 30, 2022. In this report its auditor, William Buck, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Announcement • Sep 29
Lakes Blue Energy NL Provides This Update Regarding Progress with the Outcrop Rock and Fluid Sampling Programme in the Cape Ward Hunt and Cape Vogel Peninsula Areas of Papua New Guinea The Directors of Lakes Blue Energy NL's provided this update regarding progress with the outcrop rock and fluid sampling programme in the Cape Ward Hunt and Cape Vogel Peninsula areas of Papua New Guinea. The sampling program commenced on 15 September and is progressing to schedule, despite some weather-related delays. On Saturday 24 September the field-team successfully collected samples of gas bubbling from sandstone reservoir rock beneath Alligator Creek, within Morobe Province. The gas was observed to burn with a reddish-yellow flame, which suggests heavier, non-biogenic* hydrocarbons are present. The samples will be analysed in detail in France after completion of the sampling program. The purpose of the rock and fluid sampling program is to collect and then analyse samples of rocks and fluids (both liquids and gas) from locations surrounding PPL 560, where the potential source and reservoir rocks outcrop and oil and/or gas seeps have been reported. PPL 560 contains the multi-TCF Buna Prospect. It is anticipated the sampling program will be complete by mid-October. Announcement • Sep 19
Lakes Blue Energy NL Announces Papua New Guinea Work Program Underway The Directors of Lakes Blue Energy NL's announced that the outcrop rock and fluid sampling program is now underway in the Cape Ward Hunt and Cape Vogel Peninsula areas of Papua New Guinea surrounding PPL 560, which contains the multi-TCF Buna Prospect. The purpose of the rock and fluid sampling program is to collect and then analyse samples of rocks and fluids (both liquids and gas) from locations where the potential source and reservoir rocks outcrop and oil and/or gas seeps have been recently reported. Recent reconnaissance activities and discussions with the local province leaders have identified a number of previously unrecorded oil seeps that will be targeted during the field work program. Samples will be collected from both onshore and offshore locations, in the latter case where local fishermen have recently observed gas bubbling from the seafloor. The sampling program will take approximately 30 days to complete with the samples being shipped to France for analysis by TotalEnergies. As was announced on 12 July 2022, the rock and fluid sampling program is the first phase of activity being undertaken pursuant to the Technical Collaboration Agreement between the Company and TotalEnergies. Following completion of analysis of the samples, TotalEnergies has the option, at its cost, to undertake a seismic acquisition program to delineate the Buna prospect in preparation for drilling. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 03
Lakes Blue Energy NL Approves Victorian Work Programs The Directors of Lakes Blue Energy NL's advised that the Victorian Department of Jobs, Precincts and Regions has approved the Company's proposed work programs for its Victorian petroleum exploration tenements. Although the work programs are unchanged from those that were in place prior to the August 2012 introduction of the Victorian exploration ban, following passing of the Petroleum Legislation Amendment Act 2020, which amended the Petroleum Act 1998, the Company was required to resubmit programs for approval. The work programs, once approved, become conditions of the respective tenements. An overview of the history and status of the Victorian petroleum exploration ban is appended for information of shareholders. With the exploration ban lifted from 1 July 2021, the new governing regulatory framework in place from November 2021, and work programs now approved, the Company is now able to resume on-ground exploration activity in Victoria. As was announced on 23 February 2022, work is underway toward securing approvals for drilling of the Wombat-5 and Otway-1 conventional wells. Subject to receipt of approvals, it is envisaged drilling will commence around mid 2022. This Announcement has been authorised by the Board of Lakes Blue Energy NL for lodgement with the ASX. Announcement • Feb 24
Lakes Blue Energy NL Provides Exploration Update Lakes Blue Energy NL announced that drilling operations at Wellesley have been completed and Easternwell's Rig #101 is being demobilised. While it is disappointing that Wellesley-2 was not capable of gas production it has, nonetheless, provided information that confirms the prospectivity of the Wellesley Dome and will assist with formulation of future exploration plans. The well confirmed the presence of the Evergreen Formation and, in particular, the Boxvale Sands. Based upon logging data, it is apparent that the well intersected the muddy periphery, rather than the thick permeable section, of the Jurassic-aged channel that contains the Boxvale Sands. The Company is preparing for, and will in the near-term undertake, an iodine survey over the Wellesley Dome. This involves taking a widespread matrix of small soil samples that are analysed for iodine content, with higher concentrations being an indirect indication of areas favourable for petroleum accumulations. Data from the iodine survey will be utilised to design a 3D seismic program to better delineate the Wellesley structure and, in turn, to allow selection of location(s) for future exploration drilling. Directors also advise that work has commenced toward securing approvals for drilling of the Wombat-5 and Otway-1 conventional gas wells in Victoria. The first part of this process involves stakeholder engagement programs, to identify and address stakeholder concerns, following which Operating Plans, with full details of the proposed drilling activity, can be finalised and submitted for approval. Announcement • Feb 21
Lakes Blue Energy NL, Annual General Meeting, Mar 25, 2022 Lakes Blue Energy NL, Annual General Meeting, Mar 25, 2022, at 10:00 AUS Eastern Standard Time. Location: Piper Alderman, Level 23, Governor Macquarie Tower 1 Farrer Place Sydney Nsw 2000 New South Wales Australia Agenda: To receive and consider the annual financial report of the company and its controlled entities for the year ended 30 June 2021 which includes the financial report and the directors' and auditor's Reports; to consider and, if thought fit, to pass, with or without amendment, the following resolution as a non-binding advisory resolution; and to consider and, if thought fit, to pass, with or without amendment, the following resolution as an ordinary resolution that Mr. Nick Mather, who retires by rotation in accordance with Clause 20 of the Company's Constitution, being eligible, be re-elected as a director of the Company. Announcement • Feb 10
Lakes Blue Energy NL Provides an Update on Wellesley-2 Gas Well The Directors of Lakes Blue Energy NL's to advise that the Wellesley-2 well, in Queensland, was spudded on February 10, 2022 at 10.00am. The Wellesley-2 well is a conventional vertical well targeting the Wellesley Dome, which contains a Best Estimate Prospective Resource of 41 billion cubic feet of gas. It is anticipated that drilling and testing of the well will take around 10 to 14 days. The Wellesley-2 gas well lies within the Lakes 100% owned and operated Authority to Prospect (ATP) 1183, in the Roma Shelf region of the Surat Basin. It is within close proximity to existing Armour Energy and AGL gas flowline and gas processing infrastructure. The Wellesley-2 well is a conventional, vertical well to be drilled to around 1,650m metres total depth within the crest of the Wellesley Dome, approximately 1 km northwest of the historic Wellesley-1 well. The estimated cost of the well is approximately $1.6 million. The Wellesley-2 well will target the Wellesley Dome, which contains a Best Estimate Prospective Resource of 41 billion cubic feet of gas. Lakes considers the prospectivity of Wellesley-2 to be high in view of the following: The Wellesley Dome was first drilled by BHP in 1979, targeting oil. Drilling took place near the prognosed gas-liquid contact, with 20 metres of clean Boxvale Sand intersected. The Wellesley-1 well confirmed both reservoir quality (average 28% porosity) and the presence of gas. Seismic data confirms that the original drilling was near the gas-liquid contact and indicates that the up-dip reservoir extension has significant gas potential. The historic success rate for wildcat drilling on seismic closures within the Roma Shelf region is 38. Since the presence of gas and of thick, porous, good-quality reservoir sands has already been demonstrated, the prospect for success at Wellesely-2 is potentially better than 38%. The Wellesley-2 well will be drilled with Easternwell's Rig #101, which is presently being set up on the Wellesley-2 drill site. It is estimated that drilling and testing of the well will take around 10 to 14 days. After completion of testing the well will be completed for production, unless testing is not successful, in which case it is anticipated the well will be completed as a water well for the benefit of the owner of the land upon which the well is located. The Company's vision is that production of Wellesley gas will be facilitated through tolling arrangements with adjacent infrastructure owner(s), with gas sales revenue used to assist with funding of subsequent, 2022 Victorian exploration activity. Board Change • Feb 09
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. CEO & Executive Director Roland Sleeman was the last director to join the board, commencing their role in 2019. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
