Lakes Blue Energy Nl · ASX:LKO
Lakes Blue Energy Nl — Investor Presentation (September 2025)
29 slides from Lakes Blue Energy Nl's investor presentation, Sep 12, 2025
Slide 1: Capital Raising Presentation
For personal use only LAKES BLUE ENERGY Capital Raising Presentation 12 September 2025
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation has been prepared by Lakes Blue Energy NL (“Lakes Blue Energy”, “LKO” or “Company”). By accessing this presentation, you acknowledge that you have read and understood the following statement. For personal use only Cautionary Statement The Company is not aware o
Slide 3: Executive Summary
EXECUTIVE SUMMARY ▪ Significant gas supply shortfalls are forecast in the Australian East Coast domestic gas market from as early as 2026, with consequent high gas prices. Significant east ▪ LKO is strategically well positioned to profitably contribute to resolving this supply challenge through its
Slide 4: Company Overview
COMPANY OVERVIEW Papua New PRL 2 - Wombat 5 and Trifon/Gangell Guinea ATP 1183, Queensland For personal use only • Gippsland Basin, approximately 5km northwest of • 100% of ATP 1183, has a number of gas and oil Seaspray and 30km south-southeast of Sale. targets in close proximity to established prod
Slide 5: Team
LAKES BLUE ENERGY TEAM Roland Sleeman Richard Ash Nick Mather Non-Executive Chairman Executive Director and Non-Executive Director For personal use only Chief Executive Officer Roland has extensive experience in the oil and gas, utilities Richard has focused on investing in and working with Nick’s s
Slide 6: Wombat Proposed Gas Field Schedule
WOMBAT PROPOSED GAS FIELD SCHEDULE 2025 2026 2027 Activity For personal use only Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Wombat 5 Site Construction Drill and Test Wombat 5 Pre FEED Study Resource Certification FEED FID Detailed Design & Construction Install & Commission First Gas Drilling progressing we
Slide 7: Wombat-5 Drilling Update September 2025
WOMBAT-5 DRILLING UPDATE 12 SEPTEMBER 2025 Announced to ASX on Friday 12 September 2025 Days from spud 43 The Board of Lakes Blue Energy is pleased to be able to For personal use only Current depth 2,122 mRT1 MD2; 1,402 mRT TVD3 provide the following update on drilling operations at Horizontal lengt
Slide 8: Wombat-5 Gas Well
WOMBAT-5 GAS WELL ✓ Significant gas Shows Encountered For personal use only ✓ Gas shows of up to 2,910 Units recorded at 1,875 m measured depth ✓ More shows targeted as well progresses towards wombat-3 mscfd = One thousand Mudlog extract showing DST = Drill Stem Test mmscfd = One million standard cu
Slide 9: Market Observations
MARKET OBSERVATIONS Market observations For personal use only EnergyQuest’s sixth annual ‘East Coast Gas Outlook’, Nov. 2024 ▪ East coast gas supply shortfalls expected as soon as 2026. ▪ Victorian offshore gas fields are running out – Longford production down 33% since 2022. ▪ Victoria and NSW reli
Slide 10: Market Observations Continued
MARKET OBSERVATIONS CONTINUED Market observations For personal use only ‘The Real cost of Net Zero’, Chris Uhlmann, Sky News, Nov. 2024 • “Oil & Gas are not just fuels, they are part of … everyday items.” • “Gas is the ultimate backstop for reliability…” (Daniel Westerman, CEO, Australian Energy Mar
Slide 11: Closing the Supply Gap
CLOSING THE SUPPLY GAP Projected annual adequacy in southern regions, 2022-2044 (PJ)1 LKO’s value proposition For personal use only 500 450 Strategically located 400 350 LKO holds significant resource and exploration assets in key basins, including the Gippsland and Cooper Basins, positioned 300 to
Slide 12: Wombat-5 Well and Wombat Gas Field Concept
WOMBAT-5 WELL AND WOMBAT GAS FIELD CONCEPT Wombat-5 horizontal well design specifically selected to achieve commercial production of gas. For personal use only Independently forecast potential for 10 TJ/d initial production*. Gas Field Development Concept • Minimal gas processing requirement, plus c
Slide 13: What Makes Wombat Gas Field So Appealing?
WHAT MAKES WOMBAT GAS FIELD SO APPEALING? Relative Low Risk For personal use only • Existing vertical wells all flow gas • Certified Contingent (2C) gas resources - refer to slide 29. • Gas is high-quality. • Well design is conventional, using established technology. • No Stakeholder issues: drillin
Slide 14: Wombat Drilling Budget
WOMBAT DRILLING BUDGET WOMBAT-5 REVISED DRILLING COST For personal use only OPERATION TOTAL A$ PLANNING & SITE PREPARATION $ 503,465 DRILLING SERVICES $ 4,820,945 CAMP SERVICES $ 29,750 EQUIPMENT (PURCHASED) $ 1,680,979 EQUIPMENT (RENTALS) $ 174,600 ABANDONMENT/CLEAN-OUT $ 40,000 TECHNICAL ADMINISTR
Slide 15: Post Wombat - Portland Energy Project
POST WOMBAT - PORTLAND ENERGY PROJECT 100% Company owned, with independently estimated prospective resources - refer to slide 30. For personal use only All historic wells that have intersected the Eumeralla Formation have contained gas and or condensate tight liquids. Greenslopes-2 and Portland Ener
Slide 16: Nangwarry - Opportunity
NANGWARRY 1 - OPPORTUNITY For personal use only • Nangwarry-1 (PRL 249 South Australia) is a Lakes operated JV, a well was drilled and tested in 2019/2020. • Well currently completed and ready to produce. • Certified contingent (2C) resources - refer to slide 29. • Large wellsite, sufficient space t
Slide 17: Australian CO2 Market
Australian CO2 Market Major suppliers of food & beverage grade (99.9%) CO2 For personal use only to the Australian market are: • Air Liquide (≈ 50%). • Linde / BOC (≈ 33%). • Others (≈ 17%). Major product streams: • Food & Beverage grade (≈ 60%). • Industrial grade (≈ 32%) (welding, decaffeinating c
Slide 18: Post Wombat - ATP 1183, Queensland
POST WOMBAT - ATP 1183, QUEENSLAND For personal use only 100% owned by Lakes. In close proximity to existing infrastructure. Multiple exploration targets. Discussions continuing with potential farminee for the Company to be free carried through drilling and testing costs. Independently estimated pro
Slide 19: Equity Raising Overview
EQUITY RAISING OVERVIEW ▪ LKO is undertaking a two tranche Institutional Placement to professional and sophisticated investors to raise approximately OFFER STRUCTURE $5.8 million via the issue of approximately 5.0 million new fully paid ordinary shares in LKO. AND SIZE For personal use only ▪ New Sh
Slide 20: Uses of Funds and Current Capital Structure
USES OF FUNDS AND CURRENT CAPITAL STRUCTURE EXISTING % PRE- FULLY PAID ORDINARY SHARES SOURCES A$M SHARES OFFER For personal use only NewPeak Metals Limited 6.6m 9.7% Cash and cash equivalents as at 11 September 2025 $4.6 Tenstar Trading Limited 5.2m 7.7% Institutional Placement- Gross proceeds $5.8
Slide 21: Offer Timetable
OFFER TIMETABLE INDICATIVE SUMMARY OF KEY EVENTS DATE For personal use only Announcement of completion of Institutional Placement Friday, 12 September 2025 Settlement of New Shares under the Institutional Placement Thursday, 18 September 2025 Allotment and quotation of New Shares under the Instituti
Slide 22: Appendix
For personal use only ORIGIN FUND APPENDIX
Slide 23: Key Risks
KEY RISKS 1. Company specific risks For personal use only a. Additional funding risk d. Royalty risk LKO may need to raise additional funds in the future. There is no assurance that LKO’s revenue from its wellhead royalty interest in PEP 169 is dependent on the LKO will be able to secure additional
Slide 24: Key Risks
KEY RISKS 1. Company specific risks For personal use only f. Gas shortfall expectation i. Trading suspension risk Part of LKO’s financial modelling relies on an expectation that the production of gas Trading of the LKO’s securities was suspended by the ASX on 2 October 2023. from its assets will occ
Slide 25: Key Risks
KEY RISKS 2. Industry specific risks For personal use only a. Exploration company risk c. Government and regulatory risk As LKO is an exploration company, the market’s perception of the value of its shares can The impact of actions by governments, the ASX, ASIC or other regulatory alter significantl
Slide 26: Key Risks
KEY RISKS 2. Industry specific risks For personal use only d. Reserve and resource estimate risk There is no assurance that, even if significant quantities of hydrocarbon Hydrocarbon reserve and resource estimates are expressions of judgement products are discovered, a profitable market may exist fo
Slide 27: Key Risks
KEY RISKS 2. Industry specific risks For personal use only j. Industry nature risk Oil and gas exploration activity, especially drilling, is considered by its nature to be high-risk and is affected by numerous factors. Where exploration is successful, drilling operations can be affected by breakdown
Slide 28: Key Risks
KEY RISKS 3. General risks For personal use only a. Investment risk d. Bushfire risk Holders of shares have no right to a repayment of their investment. Investors LKO’s operations may be carried out in bush fire prone areas. This can require special should appreciate that an investment in shares car
Slide 29: Summary of LKO's Prospective and Contingent Resources
SUMMARY OF LKO’S PROSPECTIVE AND CONTINGENT RESOURCES Petroleum Resource Location Licence Interest (%) Prospect Low Estimate Best Estimate High Estimate COS fluid/ Units type For personal use only Wellesley Gas (Bcf) Prospective 22.1 41.0 76.0 0.20 Bendee Oil (MMbbl) Prospective 0.5 1.0 2.1 0.30 Sur
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