Glenaras Gas Project Update

Source: 8/15/2022, Location: Not categorized

• All new wells online and pumping.
• Water production in excess of 30,000 BWPD with significant excess capacity remaining should higher rates be required.
• Gas rate around 70 Mscfd and increasing in line with water production rates and modest desorption.

Galilee Energy Limited is pleased to announce that all new well are currently online and contributing to dewatering of the Glenaras multi-well pilot (“Pilot”) in the Galilee Basin. The Pilot now has all 16 wells pumping, namely the 10 original wells along with the additional 6 new wells from the recent programme. Pilot water production is currently in excess of 30,000 BWPD with associated gas rates around 70 Mscfd. The current water rate is the highest achieved by the Pilot to date and with excess pump capacity enabling significantly higher production rates if required, provides significant additional redundancy not previously available.

As previously announced, the reservoir pressure in the overall Pilot increased as expected during the drilling programme due to the requirement for each of the existing wells to be shut in. Encouragingly we are now observing that much of this increase is being negated by strong well-to-well interference and connectivity, with the overall reservoir pressure trending strongly downwards.

This announcement was released with the authority of the Board.

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