ASX/MEDIA ANNOUNCEMENT _____________________________________________________________

Drilling of first wel_l_s__u_c_c__e_s_s__f_u_l_ly___c_o_m___p_l_e_t_e_d_ ____________________________

27 April 2022

Highlights

  • • Drilling of Glenaras 24 completed safely and within schedule.

  • • Well encountered 26m of gassy coals.

Drilling of first well in 2022 vertical programme complete

Galilee Energy Ltd ("Galilee") (ASX: GLL) is pleased to provide the following drilling update and announce that the Silver City Rig 23 has completed drilling the first well of this year's programme.

Glenaras 24 was the first well of the 2022 vertical programme which includes the drilling, completing, connecting, and powering of an additional 5 vertical wells (Figure 1). Glenaras 24 was drilled to a total depth of 1,057 m. The well intersected all coal seams on prognosis with a total of 26m net coal intersected. On intersection the coals encouragingly displayed gassy behaviour. Additionally, the well had 3+bbl/hr of fluid losses which is indicative of a permeable, depleted reservoir section and consistent with the other good producing wells in the field.

Figure 1 - Glenaras drilling locations map

ASX/MEDIA ANNOUNCEMENT

Wireline logging was completed by Schlumberger and the production casing has been run and cemented in place. The well was completed within schedule despite in excess of 100 mm of rainfall during the drilling of this well which was a commendable achievement. The mobilisation of Silver City Rig 23 to Glenaras 26 will be undertaken once the site and access roads have dried out.

Figure 2: Wireline and cementing equipment at Glenaras 24

This announcement was released with the authority of the Board.

For further information, contact:

David Casey - Managing Director Galilee Energy Limited +61 (0) 7 3177 9970

About Galilee

Galilee Energy is focused on creating a high value 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 its 100% owned Glenaras Gas Project in the Galilee Basin and exploring in the Surat and Bowen Basins, whilst looking to add further high quality acreage to its portfolio.

Directors

Chairman - Ray Shorrocks

Managing Director - David Casey

Non-Executive Director - Stephen Kelemen

Non-Executive Director - Gordon Grieve

Non-Executive Director - Greg Columbus

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Disclaimer

Galilee Energy Limited published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 03:04:11 UTC.