Galilee Energy Limited (AU:GLL) has released an update.
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Galilee Energy Limited maintains momentum in developing its Glenaras Gas Project, with a continued focus on analyzing the upgraded reservoir model for potential Reserves certification and maintaining operational consistency of its pilot. With $3 million in cash reserves and no debt, the company is poised to capitalize on the robust east coast gas market, where forecasts indicate a need for substantial new gas supplies. The Glenaras multi-well pilot, integral to this strategy, remains online as the company collects data to advance towards commercial gas rates.
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