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Galilee Energy Limited (ASX:GLL)

ALERT: Price-sensitive ASX Announcement for GLL
Current share price for GLL : $0.007 0 (0%)+
Announcement
Release
30 Jun 2026 8:08AM
Price at Release
$0.007
Full Release
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Summary
Galilee Energy Limited (ASX: GLL) has announced that rig-up activities for the Zydeco-1 well in Acadia Parish, Louisiana, have reached the final stage before drilling. The Zydeco-1 is a potentially transformative high-impact gas-condensate test well situated within a proven Gulf Coast fairway. The company holds a 100% working interest and 70% net revenue interest in the Zydeco Oil & Gas Project. The project is expected to spud in the first week of July 2026, targeting a large conventional gas accumulation of up to 13.7 BCF and 610,000 barrels of condensate. Operations are reported to be proceeding on schedule and within budget, with a strategy focused on scalable growth in the US Gulf Coast, supported by Galilee's US Advisory Board. The well's success could lead to rapid commercialisation using existing infrastructure and potentially serve as a catalyst for further growth.
Key Points
  • Zydeco-1 rig-up activities completed ahead of spud.
  • Galilee holds 100% working interest, 70% net revenue interest.
  • Operations proceeding safely, on schedule, and within budget.
  • Zydeco-1 targets potential 13.7 BCF gas and 610,000 barrels condensate.
  • Drilling expected to begin first week of July 2026.
  • Focus on scalable Gulf Coast growth strategy.
  • Support from experienced US Advisory Board.
  • Potential for rapid commercialisation post-success.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.