Galilee Energy Limited provided the following drilling and programme update and announce that Silver City Rig 23 has commenced drilling the third well in the current five well programme. Silver City Rig 23 commenced drilling at Glenaras 27 and has successfully drilled to the surface casing depth of 200m. All surface casing has now been run into the well with cementing operations about to commence.

This is the third well of the 2022 programme which consists of drilling, completing, connecting, and powering an additional 5 vertical wells Glenaras 27 is located in the centre of the identified fault zone that is interpreted to be the primary mechanism for facilitating water cross- flow in the Betts Creek Beds from interbedded sands into the coal seams. The fault zone is expected to host a higher intensity of fractures, which Glenaras 27 will directly access and subsequently produce from at higher flow rates. Glenaras 27 has been located to optimise the shielding of the pilot from incoming water and to further accelerate the pilot towards achieving commercial gas flow. The drilling of Glenaras 27 has been delayed due to a second rain event last week.

The two rain events resulted in the higher May rainfall experienced in the region for 30 years. The roads have dried out sufficiently to enable the rig to be moved and for drilling materials to be delivered to site. To mitigate the impact of losing road access during drilling, agreements have been negotiated with Halliburton and Schlumberger whereby all necessary equipment is left on-site during the during campaign resulting in cost and logistics efficiencies.

The completion element of the programme has commenced, involving the running of tubing and pumps into the wells and wellhead installation. The completion work will be completed by the Wild Desert workover rig which has set up over Glenaras 24. Work is underway in preparation for upgrading the existing power station to provide additional power for the new wells.

A 500 kVA power generator has arrived on- site with installation about to commence.