Galilee Energy Secures Technology License Agreement with Novus

Galilee Energy Limited (ASX: GLL) has entered into a technology license agreement with Novus Energy Trading Company Pty Ltd to address key reservoir challenges at its Glenaras Gas Project in Queensland’s Galilee Basin. With the Australian coal seam gas industry evolving, Galilee aims to implement Novus’ advanced subsurface engineering techniques to optimize reservoir performance. The collaboration will focus on permeability modification to enhance drainage and production efficiency over four months. Novus will receive AU$300,000 monthly in license fees and a second five staff to Galilee for the engagement.

Additionally, Galilee has secured commitments to raise AU$1.0 million by issuing 166.7 million shares at AU$0.006 per share, including AU$0.2 million to Directors. The funds will be used for general working capital. This strategic partnership and capital raise position Galilee to refine its asset development strategies and drive long-term growth in the CSG sector.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com