Galilee Energy Ltd. provided the following drilling update and announce that Silver City Rig 23 has completed the 5th well of this year's current programme at the multi-well pilot ("Pilot"). Drilling Glenaras 26 was the 5th well of the 2022 programme and was drilled to a total depth of 1,039 metres, with all Betts Creek Beds coal seams intersected as prognosed. A total of 28 metres of net coal has been confirmed with excellent gas shows.

The rig has now moved to Glenaras 29, the final well of the 2022 programme. Glenaras 29 spudded on 17th June and is currently drilling ahead at 850 metres to TD of 1,050 metres. This well is in the centre of the existing lateral wells and will be a key well for the Pilot as it will be in an area of maximum pressure depletion.

Surface Facilities The power station upgrade has been completed and pre-commissioned. The stringing and welding of the gathering and associated tie-in points is nearing completion. Trenching and laying of all gathering pipeline is now underway with skids mobilized to wellsite.

All surface facility works scheduled will be completed within July.