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Galilee Energy Limited (ASX:GLL)

ALERT: Price-sensitive ASX Announcement for GLL
Current share price for GLL : $0.007 -0.001 (-7.14%)+
Announcement
Release
2 Jul 2026 8:15AM
Price at Release
$0.007
Full Release
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Summary
Galilee Energy Limited has commenced drilling operations for the Zydeco-1 well in Acadia Parish, Louisiana. This marks the beginning of Galilee's first US Gulf Coast drilling campaign, aiming to establish itself in the scalable US Gulf Coast oil and gas sector. Zydeco-1 targets the Upper and Lower Tweedle formations within a proven gas-condensate fairway, with potential resources estimated up to 13.7 billion cubic feet of gas and 610,000 barrels of condensate. The drilling program is structured to progressively drill, protect, and evaluate the well, with key updates anticipated post electric logging of the Tweedle formations in August 2026. Success in this venture could lead to rapid commercialisation via existing infrastructure, positioning Zydeco-1 as a catalyst for Galilee's broader Gulf Coast growth strategy.
Key Points
  • Zydeco-1 well spudded in Acadia Parish, Louisiana.
  • Galilee holds 100% working interest in Zydeco Oil & Gas Project.
  • Targeting Upper and Lower Tweedle formations for gas-condensate.
  • Potential resources up to 13.7 BCFG and 610,000 barrels of condensate.
  • Drilling program includes progress through Upper and Lower Tweedle formations.
  • Key updates expected post electric logging around August 2026.
  • Success may lead to rapid commercialisation with Texas Gas Pipeline tie-in.
  • Part of Galilee's strategy to establish scalable US Gulf Coast oil and gas business.
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.