Latest GALILEE ENERGY (ASX:GLL) News

Galilee Energy has launched an offer of up to 464 million new options to participants in its recent $6.5 million placement, aiming to bolster exploration funding and working capital. The options, exercisable at $0.011 each over three years, come amid significant operational and market risks.

Speculative money piled into new discoveries and tight-supply metals, while a handful of small caps were sold hard on thin liquidity. The week’s biggest moves came from PGMs and tungsten on the way up, and micro-cap gas on the way down.

Galilee Energy has secured the Zydeco Gas Project in Louisiana and raised $6.5 million to fast-track development, marking a pivotal shift towards becoming a mid-tier US gas producer.

Galilee Energy has appointed three new directors, including CEO Joseph Graham as Managing Director, to align its leadership with its strategic pivot to the Zydeco Gas Project in Louisiana. This board refresh signals a new chapter focused on growth in the US energy sector.

Galilee Energy Limited has been reinstated to trading on the ASX following the announcement of a significant capital raising and acquisition, signaling a pivotal moment for the energy explorer.

Galilee Energy has secured an option to acquire the Zydeco Gas Project in Louisiana, marking a strategic expansion into the US market, supported by a A$6.5 million capital raise to accelerate development.

Galilee Energy has voluntarily suspended its shares from trading as it finalises a significant capital raising and acquisition, with an announcement expected by 1 December 2025.

Galilee Energy has appointed industry veteran Joseph Graham as its new CEO, signaling a strategic push to strengthen operational leadership and advance its Queensland gas assets. This leadership change coincides with Executive Chairman Ray Shorrocks stepping back to a non-executive role.

Galilee Energy reported steady cash reserves and ongoing reservoir pressure monitoring at its Glenaras Gas Project, while exploring new funding and growth opportunities.

Galilee Energy reported operational cost reductions and a $2.8 million cash balance following a partial capital raise, while progressing a farm-out process for its Denison Trough permit.

Galilee Energy reports a $1.9 million R&D tax refund and terminates its merger with Vintage Energy, while maintaining steady progress at its Glenaras Gas Project and a robust cash position of $4.38 million.