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Galilee Energy Reports $5.42m Loss as Zydeco Drilling Starts and Glenaras Sale Agreed
11:44am on Friday 4th of September, 2026 AEST
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Energy
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Galilee Energy Reports $5.42m Loss as Zydeco Drilling Starts and Glenaras Sale Agreed
11:44am on Friday 4th of September, 2026 AEST
Key Points
Net loss of $5.42 million driven by US Zydeco drilling and Glenaras costs
Zydeco-1 well spudded July 2026, sidetrack planned after mechanical issue
Binding agreement to sell Glenaras Gas Project, retaining 2% royalty
$3.5 million placement announced to fund Zydeco sidetrack drilling
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