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Hoffer B 1 - Operations Update
ASX/MEDIA ANNOUNCEMENT
18 March 2015
Hoffer B 1 Well (Galilee 35% WI, reducing to 28% after payout) Lavaca County Texas
Galilee Energy Limited (ASX:GLL) ("Galilee" or the "Company") is pleased to confirm that a 4-½" casing string has now been run and cemented over all of the potentially productive intervals to a total depth ("TD") of 14,150 ft. The successful completion of this critical activity will now allow the Operator to demobilise the drilling rig and move forward with logging ahead of production testing and potentially commercial production.
As previously announced, a number of very significant shows were observed during drilling both in the lower secondary targets, and also strong shows from sandstones developed in the primary target. A total of thirteen significant shows were recorded at multiple levels in the well, in the depth range 11,230 ft to 14,150 ft.
The Operator now expects to commence cased hole logging operations in 7-10 days to allow the cement to properly cure and maximise the data that can be acquired.
Once logging data have been analysed a completions rig and testing crew will be mobilised. Galilee will provide an update on timing of these operations as the information is available.
Galilee is participating on equal terms with the other Joint Venture partners for a 35% working interest
(WI) (reducing to 28% after payout) in the Hoffer Prospect in Lavaca County, Texas.
Further information will be provided in due course.
For information contact:
Peter Lansom Managing Director Galilee Energy Limited
+61 (0) 7 3211 8555
[email protected]
A: Level 4, Rowes Building, 235 Edward Street, Brisbane QLD 4000 / P: GPO Box 1944, Brisbane QLD 4001 /
T: +61 7 3211 8555
E: [email protected]
GALILEE ENERGY LIMITED
ABN: 11 064 957 419
ASX: GLL
www.galilee-energy.com.au
ASX/MEDIA ANNOUNCEMENT
About Galilee
Galilee's Board and management are focused on building and expanding its asset mix to create a mid-tier exploration and production company. Galilee has a clear plan to grow shareholder value and the capacity to execute.
Strong Balance sheet
Proven successful Board and Management
New strategic direction
Directors
Chairman - David King
Managing Director - Peter Lansom
Executive Director - Paul Bilston
Non-executive Director - Ray Shorrocks
Shares
Shares on issue - 152,140,466
Top 20 holders - 54.06% *
Directors and Management - 7.19%
*As at 23 January 2015
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www.galilee-energy.com.au
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