Quarterly Activities/Appendix 5B Cash Flow Report

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Stock Galilee Energy Ltd (GLL.ASX)
Release Time 31 Jul 2025, 9:42 a.m.
Price Sensitive Yes
 Galilee Energy Ltd Quarterly Activities/Appendix 5B Cash Flow Report
Key Points
  • Monitoring of Glenaras reservoir pressures for subsurface model refinement
  • Additional operational cost reductions at Glenaras
  • $2.8 million cash balance after partial capital raise completion
Full Summary

Galilee Energy Ltd released its June 2025 quarterly report, providing an update on its key projects and financial position. The company's focus during the quarter was on monitoring reservoir pressures across the Glenaras Gas Project to enable further refinement of the integrated subsurface model. Additionally, the company has implemented additional operational cost reductions at Glenaras to improve capital efficiency. Galilee's cash balance as of 30 June 2025 was $2.8 million, following the partial completion of a capital raise. The company also continues to assess alternative commercial opportunities that have the potential to deliver significant growth and value creation. Galilee's Springsure Project in the Denison Trough has undergone a comprehensive technical review, and a farm-out process is currently underway. The company maintains a disciplined approach to expenditure for the Glenaras Gas Project's exploration and evaluation activities.