Galilee Energy Limited is an emerging energy company with coal seam gas interests in Australia and coal mines in New Zealand.
The Company was formerly known as Eastern Corporation Limited (Eastern) . The company name changed to Galilee Energy Limited (Galilee) effective as of 1 June 2010 following a buyout by Eastern of the minority shares it didn’t already hold in its 68% owned subsidiary, Galilee Energy Limited. The Company’s ASX code also changed from ECU to GLL.
On 28 May 2010 the Board of Eastern announced it had received 100% acceptances for its offer to acquire the minority shareholders in subsidiary Galilee. Shareholder approval for the transaction was received at an Eastern EGM held on 1 June 2010. At the same time, Eastern shareholders also approved a resolution to change the company name.
The Company continues to operate its profitable coal business in New Zealand under wholly owned subsidiary, Eastern Coal Holdings (NZ) Limited.
The Brisbane-based company is publicly listed on the Australian Securities Exchange (ASX:GLL).
Coal seam gas: AGL Energy Limited, one of Australia’s largest energy companies, is investing $37 million for a production pilot and an exploration and appraisal programme with Galilee Resources Limited, in the Galilee Basin in Queensland.
Coal: Galilee Energy, through its wholly owned subsidiary, Eastern Coal Holdings (NZ) Limited, is an established producer of coal in New Zealand with expanding and diversifying operations. It supplies domestic industrial customers in the South Island where it is also engaged in exploration for both coking and thermal coal.
Galilee Energy in the news
- AGL is for the long haul
- Galilee Basin brings Oil and Gas Expert Home
Cam Rathie, AM, returns to the region with Galilee Energy's coal seam gas project. - AGL turns up the gas with $37m project
Queensland's coal seam gas sector just got hotter with AGL Energy investing $37 million. - AGL $37m farmin
AGL to invest A$37M in joint venture with Eastern Corporation’s Galilee Energy coal seam gas project - Galilee Release to Shareholders
AGL to invest A$37 million in Joint Venture with Galilee Energy in Queensland’s Galilee Basin - AGL ASX and Media Release
AGL invests in Galilee Basin coal seam gas production pilot and exploration - 23/06/08 Farm-in deal
Galilee Energy, the Eastern Corp subsidiary with coal seam gas exploration areas near Longreach, is in negotiations with a potential farm-in partner.
Add 2010 Highlights
- Change of Company name to Galilee Energy Limited
- Buyout of minority shareholders of Galilee completed
- $8.5 m sale of Broughton completed
Presentations
- 29 April 2010: Company Update
- 20 April 2010: Excellence in Oil & Gas
- 9 April 2010: Coal Assets presentation
Galilee Energy Limited on the ASX
| ASX Code | GLL |
|---|---|
| Last Price | 0.165 |
| % Change | -5.71 |
| Volume Traded | 42,000 |
| Time | 7:35 PM (AEDT) 3/09/2010 |
Visit the ASX Website for more detailed information
about Galilee Energy Limited. Data provided by NetQuote.
Broker Research
Click here to access the Research Article.
June 2009 Prospectus
Click here to download the Prospectus.
2009 Annual Report
Click here to access the 2009 Annual Report.
Galilee Update
Galilee Basin Conference November 2009
Download a PDF (627 KB)
Galilee Energy Project Update as presented to the 2008 International Coal Seam Gas Symposium, USA.
Download a PDF (225 KB)
Galilee Energy Project Power Point as presented to the 2008 International Coal Seam Gas Symposium, USA.
Download a PDF (1366 KB)
Galilee & NZ Location Maps
Click on a map to view a larger version of it.
2009 Highlights
- AGL commences dewatering at Glenaras 5 Spot Production Pilot
- Galilee Energy Limited exploration programme underway in ATP 799P
- Offer received for purchase of Eastern’s interest in the Broughton coal tenement
- Non – renounceable Rights Issue raises ~$5 million.
Announcements
- 2 September 2010: Galilee Energy Update
- 20 August 2010: Appointment of Chief Executive Officer
- 30 July 2010: Quarterly Report June 2010
- 16 July 2010: Project Update
- 29 June 2010: NZ Business Review
- 28 June 2010: Profit Guidance
- 22 June 2010: Galilee Project Update
- 21 June 2010: Board Restructure
- 11 June 2010: Chairman's resignation
- 4 June 2010: Change of Company Name
- 1 June 2010: Appendix 3B
- 1 June 2010: EGM Results
- 28 May 2010: Galilee Acceptance of Offer
- 10 May 2010: Broughton Sale Completes
- 30 April 2010: Notice of EGM
- 29 April 2010: Quarterly Report March 2010
- 29 April 2010: Company Update
- 27 April 2010: Galilee Energy Acceptances Exceed 90%
- 22 April 2010: Galilee Independent Directors recommend offer
- 21 April 2010: Offer document for Galilee Shares
- 21 April 2010: New offer for Galilee Shares
- 20 April 2010: Excellence in Oil & Gas
- 9 April 2010: Coal Assets presentation
- 26 March 2010: Management Changes
- 24 March 2010: EGM Results
- 12 March 2010: Galilee Energy Ltd Offer Extension
- 08 March 2010: Half Yearly Report and Accounts
- 26 February 2010: Offer to Galilee Energy Ltd Shareholders
- 26 February 2010: Sale of Broughton
- 19 February 2010: EGM Notice
- 10 February 2010: Offer to acquire 100% of Galilee Energy
- 09 February 2010: Galilee Weekly Operations Update
- 28 January 2010: Quarterly Activities Report December 2009