Galilee Energy Limited · ASX:GLL
Galilee Energy — 121 Mining Investment Conference London May 2023
22 slides from Galilee Energy's conference presentation, May 9, 2023
Slide 1: David Casey, Managing Director & CEO
David Casey Managing Director & CEO May 2023 ASX: GLL
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer Not an Offer or Financial Product Advice This Presentation is provided for information purposes only and is not a disclosure document as defined under the Any forward‐looking statements, opinions and estimates provided in this Presentation necessarily involve uncertai
Slide 3: Corporate Snapshot
Corporate Snapshot Corporate structure (ASX: GLL) Share Price & Volume as at 2nd May 2023 12 months 339m $0.14 Shares on issue Share price (2nd May 2023) $47m $11m Cash (31 March 2023 & FY22 R&D Market Cap receipt) No debt Board & Management Ray Shorrocks | Non-Executive Chairman David Casey | Manag
Slide 4: The Prize…
The Prize… Building a Multi-TCF Fully Integrated Energy Company galilee-energy.com.au | 4
Slide 5: Investment Highlights
Investment Highlights The size of the prize, its location and gas market thematics make GLL a compelling investment opportunity Pathway to Significant Multi-TCF Gas Massive Structural Number of Upside New Experienced Development Resource Tailwinds Opportunities Management Team Updated strategy to On
Slide 6: The History…
The History… A long, well travelled road galilee-energy.com.au | 6
Slide 7: Background
Background Capitalising on around $150m of previous exploration & appraisal expenditure at Glenaras • 3 multi-well production pilots • Rodney Creek vertical 5-spot; • Over 700km of 2D seismic • Glenaras vertical 5-spot; • Fully reprocessed to contemporary seismic quality standards in late 2021. • Gl
Slide 8: Glenaras Pilot
Glenaras Pilot Glenaras Pilot Field …and the end result is the largest pilot of its type targeting one of the largest uncontracted gas resources on the east coast 121 Mining Investment London May 2023 | 8
Slide 9: Production History
Production History Phase 1: Multi-Lateral Pilot • Horizontal Wells in R3 Seam are unable to fully depressurise reservoir. Gas rates have been impacted by necessary and planned workovers but the signs are encouraging Phase 2: Vertical Wells • Testing establishes communication across different coals.
Slide 10: The Challenge…
The Challenge… With the pilot at the lowest pressures recorded to date, need to maintain the capability and have the patience to wait for the gas! galilee-energy.com.au | 10
Slide 11: So what’s potentially inhibiting the gas?
So what’s potentially inhibiting the gas? • Early stage desorbed gas dissolving into dominant water stream • Very high water rates are masking actual gas desorption, but continued depressurisation will overcome this. • Insufficient volume of coal beneath critical desorption pressure to generate mate
Slide 12: Impact of shield wells has been significant!
Impact of shield wells has been significant! • Pressure depletion in centre wells such as G20 has been significantly enhanced over the 9 months since latest shield wells drilled • Essentially no pressure depletion prior to new shield wells (Sept 2021 to July 2022). • Significant depletion following
Slide 13: The Reward…
The Reward… Developing an energy company that contributes to local and regional communities, while being able to supply gas to a tightening east coast gas market galilee-energy.com.au | 13
Slide 14: The water conundrum…
The water conundrum… While water production has historically been a challenge it now represents a valuable commodity in its own right! • Produced water is high quality compared to other Qld CSG plays and can be used for irrigation. • All water produced by the Glenaras Pilot is beneficially used on s
Slide 15: The Market…
The Market… Gas is the transition fuel of choice galilee-energy.com.au | 15
Slide 16: East Coast Gas Supply Challenges…
East Coast Gas Supply Challenges… • ACCC forecast growing supply shortfall through to end Forecast supply and demand in the southern states, 2024-2034 2030 • Added uncertainty surrounding the supply assumptions, given 40% is assumed from undeveloped reserves • EnergyQuest term contract gas price out
Slide 17: The way forward…
The way forward… Ideally placed to address any future emission challenges with proactive genuine alternatives galilee-energy.com.au | 17
Slide 18: Multiple emission management strategies…
Multiple emission management strategies… GLL is ideally placed to transition to and thrive as an integrated and diversified energy company in an ever increasing carbon constrained economy… 121 Mining Investment London May 2023 | 18
Slide 19: So why GLL?
So why GLL? Galilee Energy has never been cheaper and the Glenaras pilot so advanced… galilee-energy.com.au | 19
Slide 20: Significant share price upside…
Significant share price upside… While share price performance is understandable given past expectations, there is nonetheless a genuine opportunity for a significant uplift on success at Glenaras 121 Mining Investment London May 2023 | 20
Slide 21: In summary…
In summary… Strong leadership and management team that have had prior success 100% ownership of one of the largest uncontracted multi TCF gas resources on the east coast Funded to achieve a result at Glenaras Reservoir never been better understood and closer to gas desorption Very favourable east co
Slide 22: Registered Office
REGISTERED OFFICE Level 6, 167 Eagle Street, Brisbane QLD 4000 GPO Box 1944 Phone: +61 7 3177 9970 Email: admin@galilee-energy.com.au
Galilee Energy — 121 Mining Investment Conference London May 2023 on 6ix