Galilee Energy Limited
GLL.AX
Australian Securities Exchange0.01
AUD
+0.00
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Galilee Energy Limited
GLL.AX
(Australian Securities Exchange)
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0.01
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div
yld
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ROIC.AI
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- Business
- Galilee Energy Limited (ASX:GLL) is a Brisbane-based oil and gas exploration and production company focused on developing coal seam gas resources primarily in Queensland, Australia. Incorporated in 1994 and headquartered at Level 38, 71 Eagle Street, Brisbane QLD 4000, the company holds 100% ownership of key exploration permits including the flagship Glenaras Gas Project within ATP 2019 in the western Galilee Basin covering approximately 3,200 square kilometers with certified contingent resources of 1C: 308 PJ, 2C: 2,508 PJ and 3C: 5,314 PJ; the Springsure Gas Project in ATP 2050 over the northern Denison Trough; and the Kumbarilla Gas Project in ATP 2043 in southern Queensland; while pursuing diversified opportunities in conventional oil and gas, low-carbon initiatives such as solar power, hydrogen and carbon capture and storage, and by-product fresh water production for irrigation. Operations target the east coast Australian gas market, leveraging structural tailwinds from rising demand amid the transition to lower-carbon energy alternatives, with historical interests in the United States and Chile. In December 2025, Galilee Energy secures a transformational option to acquire the Zydeco Gas and Condensate Project in Louisiana, USA, through its subsidiary Minerals U Pty Ltd via an upfront US$80,000 option fee, potential issuance of 175 million shares subject to shareholder approval, and a 5-10% gross production royalty, alongside completing a A$6.5 million placement to fund drilling preparation, permitting, Australian asset maintenance and working capital strengthening; this follows the mutual termination in December 2024 of a proposed merger scheme with Vintage Energy (ASX:VEN) that would have combined complementary onshore portfolios across eastern Australia's sedimentary basins.