Galilee Energy : Reach Markets Meet the CEO’s Presentation 26 August 2020

Transformational Energy Supply for East Coast

Markets

August 2020

ASX: GLL

Galilee at a glance

Directors

Ray Shorrocks

Non-Executive

Chairman

Peter Lansom

Managing Director

Dr. David King

Non-Executive Director

Stephen Kelemen

Non-Executive Director

Gordon Grieve

Non-Executive Director

Corporate Information

Share Price	A$0.55
No of Shares	271M
Market Cap	A$149M
Cash	A$22M
Debt	No Debt
Enterprise Value	A$127M

Share Price

1.00

0.80

0.60

0.40

0.20

0.00

2020

Project Portfolio

2

Key Investment Themes

Major Gas	Well	Market Demand
Resource	Capitalised	For Gas
Material	Galilee is well	Market likely
to move from
Contingent	funded to
being over
Gas Resource	convert
supplied to
in the Galilee	Resources to
structurally
basin.	Reserves and

accelerate	short gas as
Glenaras gas
future
enters the
exploration
market.
programs.

Significant	Low Cost
Upside	Development
Galilee has an	Staged
extensive	development
portfolio of	at Glenaras
gas at 100%	with
equity levels	Kumbarilla
across three	and
different gas	Springsure
basins in	adjacent to
Queensland.	existing gas
	infrastructure.

3

Australian East Coast Dynamics

• East coast gas market was transformed with the advent of the three LNG projects in Queensland
• Convergence between domestic gas prices and LNG export prices.
• Production from existing gas basins declining rapidly.
• Near term exploration expenditure has reduced significantly.
• Tightening supply situation now requiring higher cost developments and increased gas prices reflective of these.

Structurally short gas market - tightening supply

requiring new gas developments

Source: Australian Energy Market Operator Gas Statement of Opportunities 2020

ACCC plot of producer offers around $8-$10/GJ

Source: ACCC Gas Inquiry 2017-2025

4