Good Oil Conference Presentation

September 2019

ASX: GLL

CORPORATE

Company Overview

  • Brisbane based gas explorer (ASX:GLL).
  • 100% owner of one of the largest Contingent Gas Resources in Queensland (excluding the big 3 LNG exporters).
  • Management team has a proven track record of top tier coal seam gas and conventional exploration success.
  • MD formerly of Eastern Star Gas which was sold to Santos for $900m after booking 1,520 PJ 2P Reserves.
  • Assets in both the Galilee and Surat Basins.
  • Enhanced pilot in the Galilee Basin has commenced testing, with the aim of converting this large Resource into a significant, maiden Reserve position.
  • Jemena pipeline option provides clear path to market.
  • Surat acreage is within the overlapping, world class Walloon CSG fairway and the oil and gas prone eastern flank of the Taroom Trough.

Location of Galilee Energy's Projects

GAS EXPLORER WITH MULTIPLE STRATEGIC ASSETS TARGETING THE

CRITICAL EAST COAST GAS MARKET

3

Corporate snapshot

Financial information

Share price (6 September 19)

A$1.11

Number of shares

230M

Market capitalisation

A$255M

Cash (30 June 19)

A$11.6M

Debt (Current)

No debt

Enterprise Value

A$243M

Relative price performance

188

to 100

168

148

Rebased

128

108

88

01-Jul-19

08-Jul-19

15-Jul-19

22-Jul-19

29-Jul-19

05-Aug-19

12-Aug-19

19-Aug-19

26-Aug-19

02-Sep-19

07-Jun-19

17-Jun-19

24-Jun-19

GLL.ASX

Top 5 shareholders

(as at 6 September 2019)

JP Morgan

11.5%

HSBC

9.9%

Ecarlate

8.4%

Carpe Diem

6.5%

Raus Capital Fund

2.4%

Directors and management

4.4%

Price and volume

4

1.4

3.5

Volume (m)

3

1.1

($) price Share

2.5

2

0.9

1.5

1

0.6

0.5

0

01-Nov-18

29-Nov-18

27-Dec-18

18-Apr-19

11-Jul-19

0.4

06-Sep-18

04-Oct-18

24-Jan-19

21-Feb-19

21-Mar-19

16-May-19

13-Jun-19

08-Aug-19

05-Sep-19

Volume

Period average volume

Share Price

4

Australian East Coast Gas Dynamics

  • Australian east coast gas thematic continues to be a powerful story for Galilee.
  • East coast gas market was transformed with the advent of the three LNG projects in Queensland which altered the supply and pricing dynamics.
  • Convergence between domestic gas prices in the east coast gas market and LNG export prices.
  • The long term supply outlook for east coast gas market remains uncertain, exacerbated by southern state imposed moratoria and restrictions on onshore gas exploration activities.
  • LNG netback price now published fortnightly by the ACCC is effectively setting a base price for domestic gas users at Wallumbilla (Queensland gas supply hub).

Structurally short gas market and gas prices aligning

with international LNG prices

Average eastern and south-eastern Australian gas prices

THE SOLUTION IS NEW SOURCES OF GAS SUPPLY

SUCH AS GALILEE'S GLENARAS PROJECT

5

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Galilee Energy Limited published this content on 11 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 September 2019 23:46:00 UTC