• Engagement with Novus to develop Glenaras solutions via technology licence agreement
• New approach to overcome reservoir challenges and leveraging innovation for growth
• Cash balance of $4.1 million following the partial completion of a capital raise

Galilee Energy Ltd has provided its March 2025 Quarterly Report, detailing key highlights and activities. The company has entered into a technology licence agreement with Novus Energy Trading Company Pty Ltd (Novus) to explore solutions for key reservoir challenges at its Glenaras Gas Project in Queensland's Galilee Basin. Novus is a Queensland-based oil and gas company with expertise in subsurface engineering, permeability modification, and lateral well developments. The first instalment payment for the licence fee was made in March 2025, and the secondment of Novus staff to Galilee will commence in the next quarter. The findings from this engagement will inform potential applications across Galilee's broader portfolio, including the Denison Trough. The production well rotation strategy has continued at the Glenaras Gas Project, with the objective of collecting further subsurface data to assist in determining the extent of any preferential, directional reservoir characteristics. Galilee's cash position remains strong, with $4.1 million in cash as at 31 March 2025 and no debt. The company received $0.7 million in capital proceeds from a placement, with a further $0.1 million received in April 2025 and the remaining $0.2 million subject to shareholder approval.