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Glenaras drilling update

Drilling of the Glenaras-10 well begun on 23 March, with the vertical test hole reaching a total depth of 1,083 measured depth (MD) and intersecting a total of 29 m of net coal in the Betts Creek Beds.

The vertical test hole was then plugged back, and the first lateral well has been drilled through to the target coal, successfully landing horizontally in the primary target.

The lateral section of Glenaras-10 has also been successfully drilled, with approximately 520 m of net coal intersected in the well through the R3 seam primary target.

The well has now been suspended pending a completion with work with an electric submersible pump following the end of the drilling program.

“We are extremely pleased with the drilling results from this first well,”? said Galilee Managing Director Peter Lansom.

“The well was drilled safely, on schedule and within budget.”?

As of this morning, the Easternwell Rig 101 has mobilsed to the second well location, Glenaras-11, and is currently preparing to run 9-â…? inch surface casing at 195 m MD.

Glenaras-11 will then be drilled down to the R3 seam and landed within this primary target to provide the first shield well for Glenaras-10.

The Glenaras Gas Project is located in the highly-prospective ATP 2019 (formerly ATP 529) permit in western Queensland, and covers an area of approximately 4,000 sq km.

The project area contains a significant coal seam gas contingent resource position in the Betts Creek coals with a 1C of 308 PJ, a 2C of 2,508 PJ and a 3C of 5,314 PJ.

The permit is 100 per cent owned by Galilee Energy.

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