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Galilee Energy Limited ( (AU:GLL) ) has provided an update.
Galilee Energy Limited has announced a transformative acquisition of the Zydeco Gas Project in Louisiana, USA, a drill-ready, low-risk field. This acquisition, subject to shareholder approval, positions Galilee to fast-track production and potentially grow into a mid-tier US producer, enhancing shareholder value. The company has also completed a A$6.5 million capital raising to support this development, reflecting strong investor confidence. The Zydeco Project, located in the prolific Gulf Coast Basin, offers significant potential with its multiple proven productive play-levels and extensive 3D seismic coverage.
The most recent analyst rating on (AU:GLL) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Galilee Energy Limited stock, see the AU:GLL Stock Forecast page.
More about Galilee Energy Limited
Galilee Energy Limited is an energy company focused on the oil and gas industry. It is engaged in the exploration and development of energy resources, with a market focus on expanding its asset base and production capabilities, particularly in robust jurisdictions like Australia and the United States.
Average Trading Volume: 1,040,718
Technical Sentiment Signal: Sell
Current Market Cap: A$7.07M
Learn more about GLL stock on TipRanks’ Stock Analysis page.