Past year: ▼ 38%(0.40c – 1.00c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Sept 2023investor presentation● Neutral
Managing Director's presentation at the Good Oil Conference. Visible text is only disclaimers and the competent person statement repeating the 2015 contingent resource estimate; the rest is truncated, so no new information is shown.
5 Sept 2023security holder rights change● Neutral
42,678,318 listed options (exercise price from the February 2022 placement attachment) expired unexercised on 4 September 2023. Shares on issue are 338,537,499. No new money was raised from them.
15 Aug 2023annual report● Neutral
FY23 accounts: net loss A$8.94M, down from A$19.76M in FY22, with spending on well interventions and remedial work. Contingent resources unchanged (2C 2,508 PJ) and over A$150M invested in the pilot to date. No reserve booking is reported in the visible text.
28 July 2023quarterly activities report● Neutral
June quarter: cash A$7.3M, no debt, funded to end 2023. Management says Glenaras is back on track after remedial work, with pressure still falling. Seismic survey fieldwork finished in early July, data due mid-August; hydrogen engineering began. No reserve certification date is given in the visible text.
12 July 2023material agreement▲ GoodMajor
Galilee signed a non-binding MoU with India's Essar Exploration & Production to explore collaboration, including possible farm-in or investment in Glenaras and technical help on Essar's Raniganj CSG field. A second Indian partner MoU after Oil India in December; no binding terms or funding.
9 May 2023investor presentation● Neutral
Managing Director's presentation at the 121 Mining Investment Conference. Visible text is only disclaimers and the competent person statement repeating the 2015 contingent resource estimate; the rest is truncated, so no new information is shown.
26 Apr 2023quarterly activities report● Neutral
March quarter: cash A$3.4M plus the A$7.7M R&D refund received 15 April, no debt, funded to end 2023. Remedial cementing at Glenaras 27 and 28 done; management says pilot is slower than predicted but pressure sink is still growing. Hydrogen scoping study to start in June quarter.
17 Apr 2023production update▲ Good
A$7.7M R&D refund received. Remedial work on Glenaras 27 and 28 is complete; water fell and gas rates improved versus before the workovers. A pump failure at Glenaras 20 leaves 15 wells online, with a workover rig secured.
28 Mar 2023other▲ GoodMajor
The ATO approved a A$7.6M refundable R&D tax offset for 2021/22, which the company says funds it through to end 2023. It eases the falling cash position (A$5.8M at December) and opens hydrogen demonstration scoping. Remedial cementing on Glenaras 27 is done and Glenaras 28 is under way.
13 Mar 2023half year report● Neutral
Half-year to 31 Dec 2022: net loss A$8.72M (A$8.13M a year earlier), mainly Glenaras pilot drilling, pump work and operating costs. Restates the record gas rate above 100 Mscfd and unchanged contingent resources; maiden reserve certification is described only as an aim.
8 Mar 2023production update● Neutral
Remedial work has started on Glenaras 27 and 28 to isolate the lower Aramac sands, after weather delays. Gas is around 100 Mscfd and Glenaras 26 is flowing about 50 Mscfd. Pressures are the lowest recorded. The early-2023 reserves target is no longer repeated in the company boilerplate.
1 Feb 2023production update● Neutral
Pressure surveys show the lowest pressures yet, but the pilot is taking longer to produce gas than predicted, with crossflow between layers a possible cause. Glenaras 26 showed desorption after remedial work; same fix is planned for Glenaras 27 and 28 from mid-February.
30 Jan 2023quarterly activities report● Neutral
December quarter: record gas above 100 Mscfd and pressure at its lowest, with maiden reserve certification still the aim. Net cash dropped to A$5.8M from A$9.7M in September, no debt. A review of Bandanna coal potential began at Kumbarilla and Springsure.
19 Dec 2022production update▲ Good
After remedial work on Glenaras 26, the pilot hit a record gas rate above 100 Mscfd (up from about 90 in October) with all 16 wells pumping. Gas from the target seams held steady or rose as water fell, suggesting more coal nears desorption pressure. Gas is still mostly solution gas.
1 Dec 2022material agreement▲ Good
Galilee signed a non-binding MoU with state-owned Oil India Limited to explore collaboration on coal seam gas in India, Australia and elsewhere, including joint bids in India's Special Bid Round 2022. No binding terms or funding yet; it opens a possible overseas and partner route.
24 Nov 2022investor presentation● Neutral
Managing Director's AGM presentation. The visible text is disclaimers and the competent person statement repeating the 2015 contingent resource estimate; the rest is truncated, so no new information is shown.
21 Nov 2022director officer appointment● Neutral
Andrew Ritter replaces Stephen Rodgers as Company Secretary with immediate effect. Rodgers resigned after 8 years. Administrative change; Ritter is now the ASX listing rules contact.
10 Nov 2022investor presentation● Neutral
Managing Director's presentation at the Noosa Mining Conference. The visible text is only disclaimers and the competent person statement repeating the 2015 contingent resource estimate; the rest is truncated, so no new information is shown.
3 Nov 2022production update● Neutral
Pressure testing shows the six new wells are shielding the centre of the pilot, and pressure is at its lowest ever. Two wells need pump replacements, so 14 are producing. Only a small area of coal is below desorption pressure so far; more gas is expected in coming months.
28 Oct 2022quarterly activities report● Neutral
September quarter: 17 wells completed per the report, water at 30,000 BWPD and gas near 90 Mscfd. Maiden reserves certification is still targeted around end Q1 2023. Net cash fell to A$9.7M from A$16.2M in June, with no debt.
21 Oct 2022annual report● Neutral
FY22 annual report. The chair calls the year pivotal, citing the new managing director, the six-well drilling programme finished in June, and an inaugural reserves certification targeted for 2023. It admits pump failures in the first half of FY22 limited gas progress at Glenaras.
6 Oct 2022production update▲ Good
Pilot has 15 wells online producing about 90 Mscfd gas and 30,000 BWPD, up from about 70 Mscfd in August. Pressure at the central observation well is the lowest recorded, and surrounding wells are nearing desorption pressure. Company expects more gas in coming months.
5 Oct 2022agm notice● Neutral
The 2022 AGM will be held 24 November 2022 at 11:00am Brisbane time, in person with a live stream. Director nominations close 13 October. Administrative notice only.
21 Sept 2022annual report● Neutral
FY22 annual financial statements: net loss A$19.76M (FY21: A$18.50M), mainly drilling, pump programme and pilot operating costs. Resources unchanged (2C 2,508 PJ). Confirms David Casey as MD from 1 December 2021, replacing David King.
21 Sept 2022other● Neutral
Annual corporate governance statement, dated 21 September 2022, saying practices substantially follow ASX recommendations except where noted. Routine compliance document with no new operational or financial information.
21 Sept 2022other● Neutral
Appendix 4G key to corporate governance disclosures, lodged with the annual report and signed by the Company Secretary. Administrative form pointing to where governance disclosures are found.
19 Sept 2022material agreement▲ GoodMajor
Galilee signed a non-binding MoU with APA Group to explore a pipeline from Glenaras to the Cooladdi compressor station, about 420 km south, on the South West Queensland Pipeline. It supersedes the 2017 Jemena agreement. No binding terms or costs yet.
6 Sept 2022investor presentation● Neutral
Conference presentation by the Managing Director for the RIU Good Oil & Gas conference. The visible text is disclaimers and the competent person statement, repeating the 2015 contingent resource estimate; the rest is truncated and no new information is shown.
18 Aug 2022joint venture update● Neutral
Galilee joins a Sunshot Industries trial testing six non-native tree species for biomass and CO2 sequestration, under the late-2020 Heads of Agreement. It is a small research trial, not a commercial commitment.
15 Aug 2022production update▲ Good
All 16 pilot wells (10 original, 6 new) are now pumping, with water above 30,000 BWPD, the pilot's highest, and gas around 70 Mscfd, up from about 60 Mscfd in April. Reservoir pressure is trending down strongly.
