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GALILEE ENERGY LIMITED

ASX: GLL

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Galilee Energy Limited (Galilee) is a Brisbane based energy company growing its exploration portfolio to include interests in Australia, Chile and North America.

Projects

The Galilee Gas Project is exploring to evaluate the quantity and quality of coal seam gas in the Galilee Basin Betts Creek Beds. Previous project activities include seismic surveys, core holes and construction of the Glenaras pilot; incorporating five production wells and a 300 ML holding pond. AGL have completed their $37 million farm-in and bring considerable expertise, experience and gas marketing shills to the Project. The Joint Venture is currently finalising the design parameters for this work and expects the workover programme to commence in Q3 2014

Chile:Galilee Energy Limited has signed a memorandum of understanding (MOU) with Chile’s state owned oil and gas company, Empresa Nacional del Petróleo (ENAP) to jointly explore for unconventional hydrocarbons in the Magallanes Basin in southern Chile. Under the terms of the MOU, Galilee and ENAP will focus on a region covering approximately 7,200 sq km (1.8 million acres) in the north-west portion of the Magallanes Basin (Puerto Natales - Seno Otway) to evaluate the potential for large-scale coal seam gas (CSG) production.

Illinois Basin: Galilee Energy Limited entered into a Joint Venture agreement under which it will work with a group of experienced US based oil and gas professionals to carry out exploration drilling targeting large, high return, shallow oil prospects in the Illinois Basin, Illinois USA. The Illinois Basin is a shallow, intracratonic basin that has already yielded over 4 billion barrels of oil. Galilee and its Joint Venture partners have to date acquired almost 3000 acres of leases in an active and ongoing leasing program focused in the Sangamon, Shelby, Bond, Logan, Macon, Christian and Clark counties.

Lavaca County, Texas: Galilee Energy Limited has acquired a 35% working interest in a high impact, liquids rich exploration target in Lavaca County, Texas. Galilee expects the well to deliver sweet natural gas with a good liquids yield. Successful testing of the target will result in immediate follow up development wells and rapid commercialisation with an existing pipeline infrastructure located approximately 500m from the well.

Kansas Shallow Oil: Galilee has signed a Memorandum of Understanding (MOU) with a group of private investors to progressively earn up to a 75% working interest (WI) in selected areas within 110,000 acres of leases in the Anadarko Basin, south-western Kansas. The MOU allows for Galilee to select the location of operations across existing leases primarily in Meade County, Kansas and to jointly expand the asset within the encompassing 345,600 acre Area of Mutual Interest ("AMI"). The AMI area is typical of the areas targeted by operators in other parts of Kansas. It is only lightly explored yet surrounded by prolific historical oil and gas production. Production to date from Meade County and the five adjacent counties is in excess of 185 million barrels of oil and 5.5 trillion cubic feet of gas, with producing fields located one mile to the east and within 10 miles to the south and west.

Mine For

gas, oil, coal seam gas

Location of operation(s)

Queensland

Australian Basins

Galilee

Address

Level 4, Rowes Building 235 Edward Street
Brisbane, QLD, AUSTRALIA

Phone

+61 (0)7 3211 8555

Email

Website


Last Updated

1/10/2014

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.