Galilee Energy: Reports promise and problems at Kumbarilla
- Galilee Energy (GLL) has found more than expected at its first exploration well at Kumbarilla in the Surat Basin
- The well, now completed to a depth of 1020 metres, was targeting the Walloon subgroup
- Drilling intersected and confirmed a coal band of 25 metres across the three primary targets which exceeded the pre-drill expectations
- Then the drill rig is now being mobilised to a second of the three sites to test the same three targets as the first hole
- Best current estimates of the contingent resource also stand at 504 petajoules of gas
- Galilee Energy gained 3.9 per cent through Friday’s session to close at 67 cents per share
