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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Galilee Energy Limited    GLL   AU000000GLL4

GALILEE ENERGY LIMITED

(GLL)
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Galilee Energy Limited : is pleased to provide an update on the drilling operations in the Galilee Basin

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10/01/2020 | 12:18pm EDT

The Glenaras 21 vertical well was spudded on 22nd September 2020.

This well was successfully drilled through to planned total depth, intersecting the full Betts Creek coal section. All coals were encountered on prognosis with excellent development throughout all targeted seams.

A total of 25.5m of net coal was intersected with a complete set of wireline logs run to characterise the coal seams prior to production. The Glenaras 21 well has been cased and suspended for future production in what is another successful step in the five well pilot enhancement programme.

Glenaras 19 was spudded 28th September and as at 8am today, surface casing has been cemented to 201 metres and the rig is drilling ahead in the 8 1/2' hole section at 370 meters. Further operational updates will be provided to the market throughout the drilling programme.

Contact:

Tel: +61 (0) 7 3177 9970

About Galilee

Galilee Energy is focused on creating a mid-tier exploration and production company building on its core strengths in coal seam gas appraisal and development. Its primary area of focus is Queensland where it is appraising the Galilee and Surat Basins, exploring in the Bowen Basin, whilst looking to add further high quality acreage to its portfolio.

(C) 2020 Electronic News Publishing, source ENP Newswire


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All news about GALILEE ENERGY LIMITED
10/23GALILEE ENERGY : Notice of Annual General Meeting – 2020     23 October 20..
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10/19GALILEE ENERGY : Glenaras Drilling Update     20 October 2020
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10/13GALILEE ENERGY LIMITED : - Glenaras Drilling Update
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10/12GALILEE ENERGY : Glenaras Drilling Update     13 October 2020
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10/07GALILEE ENERGY LIMITED : - Glenaras Drilling Update
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10/05GALILEE ENERGY : Date of 2020 Annual General Meeting     05 October 2020
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10/05GALILEE ENERGY : Glenaras Drilling Update     06 October 2020
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10/01GALILEE ENERGY LIMITED : is pleased to provide an update on the drilling operati..
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09/30GALILEE ENERGY : Glenaras Drilling Update     30 September 2020
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09/25GALILEE ENERGY : Consolidated Financial Statements for year ended 30 June 2020  ..
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Financials
Sales 2021 1,00 M 0,71 M 0,71 M
Net income 2021 - - -
Net cash 2021 1,00 M 0,71 M 0,71 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 201 M 143 M 143 M
EV / Sales 2021 200x
EV / Sales 2022 113x
Nbr of Employees -
Free-Float 60,1%
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Mean consensus BUY
Number of Analysts 1
Average target price 0,83 AUD
Last Close Price 0,74 AUD
Spread / Highest target 12,2%
Spread / Average Target 12,2%
Spread / Lowest Target 12,2%
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Managers
NameTitle
Peter Barry Lansom Managing Director & Director
Raymond John Shorrocks Non-Executive Chairman
Gerard Ryan General Manager-Operations
Milton Cooper Chief Financial Officer
David William King Non-Executive Director
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