Lakes Blue Energy (ASX:LKO) said that production testing at its Wombat-5 gas well will be delayed after pressure tests revealed the upper swellable packer had not yet reached the required sealing pressure, according to a Tuesday filing with the Australian bourse.
The company expects the packer to take about 10 more days to set and will keep the rig on-site while temporarily demobilizing the crew, per the filing.
The re-testing of the packer is set for Dec. 5, with production testing to start the following week, the filing added.
The company's shares rose 4% in recent Tuesday trade.