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ASX/MEDIA ANNOUNCEMENT
12 February 2015
The Company Announcements Officer Australian Securities Exchange Exchange Centre
Level 4, 20 Bridge Street
SYDNEY, NSW 2000
By Electronic Lodgment
Dear Sir / Madam
RE: Information under Listing Rule 5.4.3
Reference is made to the Quarterly Activities Report lodged with the ASX 30 January 2015. Detailed below is the information required by Listing Rule 5.4.3 as regards the interests held by Galilee Energy Limited (Galilee) or through its subsidiaries in the petroleum tenements, leases or interests held at the end of the period concluding 31 December 2014.
Illinois Basin (Illinois USA)
Galilee, through its wholly owned US subsidiary to fund 100% of the dry hole cost for the first well on each prospect to earn a 75% working interest in the prospect.
Lavaca County (Texas Gulf Coast USA)
Hoffer B1 (Hoffer Klimitchek Prospect Area)
Galilee has a 35% working interest (WI) in the Hoffer B1 exploration target in Lavaca County, Texas. Galilee will participate on equal terms with the other Joint Venture partners for a 35% with the WI reducing to 28% after payout.
Hoffer Extension Area
Galilee holds a 37.5% WI in a Joint Venture in this area of mutual interest.
Dworsky Prospect Area (Dworsky Haas 1)
Galilee holds a 32.46% WI to casing point and a 24.35% after casing point
Spikes East Prospect Area (Williams 2)
Galilee holds a 38.94% WI before payout with a 31.15% WI after payout
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
Kansas Shallow Oil & Gas (Kansas USA)
Galilee to earn up to a 75% WI via a farmin - 25% WI for 3D Seismic - 25% for each well drilled to casing point to a total of 75% WI
Galilee Gas Project (ATP 529P - Galilee 50%, AGL 50% and operator)
Yours faithfully
Stephen Rodgers
Company Secretary
For further information contact:
Peter Lansom Managing Director Galilee Energy Limited
+61 (0) 7 3211 8555
[email protected]
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
www.galilee-energy.com.au