An update from Galilee Energy Limited ( (AU:GLL) ) is now available.
Galilee Energy Limited has entered into a technology license agreement with Novus Energy Trading Company to address reservoir challenges at its Glenaras Gas Project. This collaboration aims to enhance production efficiency and resource recovery by leveraging Novus’ expertise in subsurface engineering. The insights gained could influence Galilee’s broader portfolio and the coal seam gas industry. Additionally, Galilee is raising A$1.0 million through a share placement to fund general working capital expenses.
More about Galilee Energy Limited
Galilee Energy Limited is advancing towards becoming an integrated and diversified sustainable energy company, focusing on supplying natural gas to the east coast market of Australia. The company owns the Glenaras Gas Project in Queensland’s Galilee Basin, one of the largest uncontracted natural gas resources on Australia’s east coast. The project is noted for its environmental credentials, including the production of fresh water for agricultural use and low CO2 emissions.
Average Trading Volume: 638,926
Technical Sentiment Signal: Buy
Current Market Cap: A$3.34M
For a thorough assessment of GLL stock, go to TipRanks’ Stock Analysis page.