Galilee Energy Limited · ASX:GLL
Galilee Energy — Shareholder Meeting (November 2022)
18 slides from Galilee Energy's shareholder meeting presentation, Nov 24, 2022
Slide 1: AGM Presentation
AGM Presentation David Casey Managing Director & CEO 24 November 2022 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: The last 12 months…
The last 12 months… The path to building a multi-TCF fully integrated energy company | 3
Slide 4: The Year in Review
The Year in Review Very active year with 6 additional wells drilled at Glenaras despite unseasonal rainfall. Handled record water volumes, expanded irrigation area by an extra 50 hectares. Significant crop trials and R&D efforts underway to de-risk future development. MoU signed with APA for gas pip
Slide 5: The History…
The History… A long, well travelled road | 5
Slide 6: Background
Background Capitalising on over $100m 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. • Glen
Slide 7: 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 | 7
Slide 8: Production History
Production History • With one exception water rates have been declining as expected Reservoir pressure is at lowest level in pilot history with increasing pressure depletion and well interference • The exception being G26 which is a clear outlier with: • extremely high water rates (~4600bwpd) • Sign
Slide 9: Production - Glenaras 26
Production - Glenaras 26 • Review of water chemistry and drilling logs for G26 was not contributing to pressure reduction at the pilot G26 indicated that drilling likely intersected an G26 Logs underlying sand within the Aramac Coal 5000 Glenaras 20 Production Measures. Initial impact of G26 4000 •
Slide 10: Production - back on track
Production - back on track • With three wells offline, water and gas rates dropped over the Oct-Nov period • Loss of production impacted the required pressure decline • All wells back online and with successful remedial work in G26 seeing strong declines in inner wells • Pressure in centre of pilot
Slide 11: The Challenge… Prize…
The The Challenge… Prize… Commercial gas production Building a Multi-TCF Fully while transforming waterCompany Integrated Energy into a value adding profitable commodity | 11
Slide 12: The water conundrum…
The water conundrum… While water production has been and remains 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 as pa
Slide 13: The Challenge… The way forward…
The Challenge… The way Prize… forward… Building Commercial Ideally a Multi-TCF gas placed Fullyanywhile to production address future emission Integratedwith transforming challenges Energy water Company into a genuine proactive value adding profitable commodity alternatives | 13
Slide 14: Decarbonisation Pathway…
Decarbonisation Pathway… GLL is ideally placed to transition to and thrive as an integrated and diversified energy company in an ever- increasing carbon constrained economy… | 14
Slide 15: The road ahead…
The road ahead… Galilee Energy is uniquely placed to transform both Australia's energy and agricultural landscapes… | 15
Slide 16: Forward Plan
Forward Plan Identify potential partners to assist GLL in the transition to an integrated and diversified energy company Execute on current portfolio of new venture opportunities Pursue Glenaras commercialisation and carbon offset options Certified Reserves booking Increasing desorbed gas rates | 16
Slide 17: In summary…
In summary… The size of the prize, its location and gas market thematics make GLL a compelling investment opportunity Pathway to Multi- Significant Structural TCF Gas Massive Tailwinds Number of Upside New Experienced Development Resource Opportunities Management Team Updated strategy to One of the
Slide 18: Thank you…
Thank you… REGISTERED OFFICE Level 6, 167 Eagle Street, Brisbane QLD 4000 GPO Box 1944 Phone: +61 7 3177 9970 Email: admin@galilee-energy.com.au Recent crop planting operations at Glenaras | 18