GLL Galilee Energy

[macduffy]

Looks like the float of the South Is coal mines owned by GLL's subsidiary Eastern Resources has moved a step closer.

Note that only an ASX listing is proposed at this stage although I would think an NZX listing would follow if there is a big uptake from NZ investors. I'll look at the prospectus but at this stage prefer Bathurst Resources' Buller project, which also gets a mention in this article.

http://www.stuff.co.nz/business/industries/4266102/Eastern-set-to-be-floated-from-Australian-parent

[kiwitrev]

Hi Macduffy
ASX announcement today, Bathurst have made $30m offer to buy all NZ assets. There's a turn up.

[macduffy]

Hi Macduffy
ASX announcement today, Bathurst have made $30m offer to buy all NZ assets. There's a turn up.

Indeed it is!

At the moment I'm more interested in what effect this might have on BTU's SP, especially the current capital raising. From GLL's point of view it probably ensures that their NZ float will be more popular, having a back-up offer from BTU to fall back on.

A lot of water yet to go under this particular bridge, I suspect!

[mark100]

GLL currently has a Market Cap of $31m and $39m cash in the bank (no debt).

They have 2 main CSG projects.

One of the projects, ATP529, is a JV with AGL Energy where AGL have farmed in by paying $37m for 50%. 3C Resources of 1090PJ have been estimated so far.

Cheap stock if sentiment towards the CSG sector improves

[kiwitrev]

Hi Mark
Like the rest of the CSG sector SP has gotten very cheap. Interesting volume on single days each May and June 2m and 1.5m. Just for those not aware a wild card for GLL is that over 20% held by Campbell Smith former CEO who resigned when the deal done to sell NZ assets to Bathurst Resources. Also first Resource estimates (2C and 3C) recently announced for portion of ATP529 with a Reserve estimate due by December 2011.

[kiwitrev]

CSG players will be showing a little more interest in the CSG sector following recent announcements, Santos with 25% of ESG and today Arrow (owned by Petrochina and Shell) takeover proposal of BOW. It would seem there are moves being made to secure acreage to boost reserves to support a bigger export terminal at Gladstone for export of LNG. This space appears to be hotting up so players need to be on alert.

[gazprom1]

Looked into this stock during the Xmas holidays and bought in. Great acreage, strong partner and very good cash position to market cap. Looking at convential oil/ gas and well as unconventional shale oil/gas. SP has dropped from 30 down to 14 cents the past year. Has work programme agreed for current year which is fully funded ($10 million v. $36 million in the bank).

Is very unloved at the moment. Shares are resonably tightly held. Very happy to hold.

DYOR.

Gazprom

[kiwitrev]

Hi Gaz
According to some of the gossip on HC you might have timed your entry to a nicety. Have been holding for some time. Reserve estimate overdue so maybe not far away. The Campbell Smith holding of 20% will be key to any takeover offer as also is the AGL participation as 50% farmin of ATP529P leaving Galilee with 100% of ATP799P.
If anybody knows how we need to get the thread corrected to Galilee Energy which is the company name.

[drillfix]

Read my signature KT.

The link shows the way to rename the thread accordingly but must be done only by the thread starter. (or a mod).

:)

[gazprom1]

Hi Gaz
According to some of the gossip on HC you might have timed your entry to a nicety. Have been holding for some time. Reserve estimate overdue so maybe not far away. The Campbell Smith holding of 20% will be key to any takeover offer as also is the AGL participation as 50% farmin of ATP529P leaving Galilee with 100% of ATP799P.
If anybody knows how we need to get the thread corrected to Galilee Energy which is the company name.

Hey KT,

Thanks for your post. Nice movement today. Is a T/O target IMHO. It is just a matter of what level would be acceptale. Happy to be along for the ride.

Gaz

[kiwitrev]

Hi Gaz
Yep 12% positive today, significant because has been range bound for sometime.

[drillfix]

Hi Gaz
Yep 12% positive today, significant because has been range bound for sometime.

Kiwitrev,
The link shows the way to rename the thread accordingly but must be done only by the thread starter. (or a mod).

The original Poster appears to be Macduffy so why not PM him and let him know your concern regarding Title.

Good luck~!

[macduffy]

Correction made!

:)

[soulman]

Thanks for the heads up Gaz. Read your post on the weekend and load up at 17. Unfortunately just over 10K shares were filled.

Not sure how many acreage they got and I don't mind the negative EV plays. In a way, reminds me of BRU a few years back.

[drillfix]

Correction made!

:)

Good stuff Macduff, cheers~!

[kiwitrev]

Hi Soulman
Total acreage over two blocks 9000 km2. Nice to see I have some new friends in GLL, I take it as a good sign. Thanks also DF for your help.

[gazprom1]

Thanks for the heads up Gaz. Read your post on the weekend and load up at 17. Unfortunately just over 10K shares were filled.

Not sure how many acreage they got and I don't mind the negative EV plays. In a way, reminds me of BRU a few years back.

Hey SM,

Who knows how this thing will play out ultimatley but I liked the acreage and the fact that they are fully funded for the next 2-3 years. Cap raising in this market are typically destructive in the short term to the SP. I am hoping GLL will get taken out at a significant premium to where it is trading today....would like to buy more back at the 15.5 cent level.

KT - hope it is a good ride for us all.

Gaz

[soulman]

$35 mil in the bank earning interest, mrt cap at $27.3 mil at 18 cents, up 16% today.

Has the market finally wake up to this under appreciated gas explorer. Why don't AGK take them out for 25 cents for 100% stake of the project.

Gaz, it touch 15.5 yesterday. Did you get any?

[gazprom1]

$35 mil in the bank earning interest, mrt cap at $27.3 mil at 18 cents, up 16% today.

Has the market finally wake up to this under appreciated gas explorer. Why don't AGK take them out for 25 cents for 100% stake of the project.

Gaz, it touch 15.5 yesterday. Did you get any?

Hey SM,

No I did not get any.....however, I am still holding a large parcel from December (bought at 15.5 and 15 cents) so happy with the move. It is the largest volume traded since I bought them and I am wondering whether there has been a leak of some news that may surface in the coming days. My view for holding was in order to get taken out by AGK or another operator in the basin.

Hope it consolidates or moves higher from here. Would like a t/o north of 25 cents.

Do you hold any SM??

Gaz

[soulman]

I am in for a while now, bought 2 lots at 17 cents. Just the more cash than market cap says it's a safe play but no one want to spike it up.

Today, GLL has quiet down again. Still better than the 15.5 close 2 days ago though. One for the long termer.

[soulman]

Has been a long termer and seems to be going downhill. Nevertheless, cash on hand of $33.8 mil (no debt) and $19 mil market cap is hard to argue.

A safe boring stock until some drilling program is announce.

[soulman]

Good to see GLL getting a bit of kicks and demand.

I hold quite a few of these (adding more at 13 and 14) and at $22 mil cap and $33 mil cash in the bank and no debt, hard to argue.

[gazprom1]

Good to see GLL getting a bit of kicks and demand.

I hold quite a few of these (adding more at 13 and 14) and at $22 mil cap and $33 mil cash in the bank and no debt, hard to argue.

Hey SM,

I am in with you on this one. Has moved up strongly the past week. Watching with interest....

Gaz

[bung5]

Been holding since 15c so good to see it tracking up. With some momentum it should be back up in the the 20's then some good flow tests in November could keep it going above 30. All wishful yes, but really, 30c share price would still be cheap and leaving plenty of upside.
Not sure how this managed to get to such a discount to cash backing.

[kiwitrev]

Could this be the start of some good news for this coy?. Steven Koroknay,director, buys 125k shares @ 14.45. I can't remember when that's last happened. Could be a good time to add to positions.

[kiwitrev]

A company exploring for coal seam gas in western Queensland says it still doesn't know if the region will be productive.

Grazing land across the west is the latest region to be pin pricked by drill rigs owned by companies keen to see if the Galilee basin holds any productive gas reserves.

The Galilee basin extends from as north as Richmond in north-west Queensland right down to Tambo in southern Queensland.

One of the exploration companies is AGL who supply gas to many millions of its customers across the country.

It's established a pilot project on a sheep property called Glenaras Station, north of the tiny town of Ilfracombe in central west Queensland.

Head of exploration for the company, Andrew Falkner says they've been there since 2009.

"We've established five wells in close proximity to each other in an area on the property where we know there is gas.

"As well we have built a dam to hold water that comes up with the gas and a camp to allow our staff to be on site at all times."

So far the project hasn't had too much luck.

Andrew Falkner says its pumps are getting too hot down the wells.

"One of the problems we've had in the Galilee area is that we've had really high temperatures down the holes, so about 80 degrees centigrade at about a thousand metres in depth."

"At that depth we're having trouble keeping the pumps pumping."

Despite these setbacks, Andrew Falkner is confident the area will produce gas - just don't ask him when.

"We've invested I think between $40-50 million into this project.

"We still have every confidence this area will work in terms of coal seam gas so we will keep investing money until we work out if we can or we can't produce from this area.

"I think probably in 6 to 12 months we should have a better idea of whether we can produce gas or not."

Water is a by product of gas extraction from coal seams and the Galilee basin is no different.

AGL is currently capturing water they pump up in a lined dam.

Government regulation require them to store it securely because its slightly brackish and has a salt content of 2000 microsiemens per centimetre which means is far less salty than seawater but more than water from the Great Artesian Basin.

If it's to be used the company need to treat it through reverse osmosis.

Then the water can used for anything like giving to stock for drinking or even used to irrigate forage crops like saltbush.

Both options interest Glenaras property owner, George Gowing.

"I'm not against it, if we could flood irrigate an area that would be good.

"We don't envisage any great area will be able to be developed but we are willing to look into it to benefit our grazing operation."

George Gowing has lived on the property since 1989 and has seen company's looking for oil and gas come and go in that time.

Mr Gowing says he was happy to host AGL's pilot project on his property because he's been pleased with the level of communication his family has had with the company.

He says they've also benefited from their presence.

"Although the monetary benefits of having CSG on our property are minimal we have benefited in other ways.

"Our road is absolutely fantastic, they've replaced all our gates with grids coming into the well.

"Our son is employed by AGL which also helps us out."

If the pilot project moves into production, AGL says it will pipe the gas to either their customers in southern Australia or to their project in Mt Isa where they are building a gas power station.

[soulman]

A little tickle in GLL today with decent volume. KT, Steven Koroknay is also an execs in MEO. He's been buying a few lately as well as Cam Rathie.

Still trading at 7 cents discount to cash or roughly 50%.

[kiwitrev]

Hi SM
Yes, it's only a trickle their buying, but, must be seen as a positive rather than a negative. Just a few more posts on HC lately so again a bit more interest. Today's presentation not particularly inspiring, not any substantial news (What does 97% of fracc being water and sand imply?).

[soulman]

Just need someone to make a reco on them and she will fly.

Nothing specs about the presentation other than the discount to cash. Any good decent acquisition will get the punters interested.

[bung5]

we are being corporate raided by ron brierley!

[shasta]

Been a while since GLL got a mention given it has uncontracted gas in QLD. Bought in av 14.5 recently, MCap $18m with $6m cash = EV$12m, seems a no brainer. MD was in charge of Eastern Star Gas when sold to Santos for $900m on booking 1520pj (2p), and GLL looking to book 500pj (2p) after upcoming drilling program.

How long it remains under the radar, who knows...

A bit like RLE, I see them getting taken over by one of the big boys, but I'll take 20c quick trade.

[JBmurc]

Been a while since GLL got a mention given it has uncontracted gas in QLD. Bought in av 14.5 recently, MCap $18m with $6m cash = EV$12m, seems a no brainer. MD was in charge of Eastern Star Gas when sold to Santos for $900m on booking 1520pj (2p), and GLL looking to book 500pj (2p) after upcoming drilling program.

How long it remains under the radar, who knows...

A bit like RLE, I see them getting taken over by one of the big boys, but I'll take 20c quick trade.

GLL doesn't really excite me to be honest ..project is huge but marginal even at the high spot gas prices.. and nil pipline close ....for the same market value you can Buy the likes of RLE with the STO-MOU ,Gas sales MOU ,pipline right next door ....STO plant close by ,,well funded etc

[kiwitrev]

For those interested in Oz gas plays the following ann. will be of interest.

http://galilee-energy.com.au/wp/wp-content/uploads/2017/10/Galilee-Energy-and-Jemena.pdf

[kiwitrev]

For those interested in Oz gas plays the following ann. will be of interest.

http://galilee-energy.com.au/wp/wp-content/uploads/2017/10/Galilee-Energy-and-Jemena.pdf

Anyone interested in the energy space time to seriously look at GLL. 2 yrs ago SP 9c. Recent purchases by all directors. Currently horizontal drilling (very good progress reported) to obtain Reserves status. Second largest uncontracted resource on East Coast. Pipeline accord with Jemena (to be confirmed). SOI 189m shares traded past 2 weeks 22m. Current SP 36.5c up 26% yesterday on 5m shares traded.
Disc. Been in this one for a long long time - now for some redemption.

[kiwitrev]

Anyone interested in the energy space time to seriously look at GLL. 2 yrs ago SP 9c. Recent purchases by all directors. Currently horizontal drilling (very good progress reported) to obtain Reserves status. Second largest uncontracted resource on East Coast. Pipeline accord with Jemena (to be confirmed). SOI 189m shares traded past 2 weeks 22m. Current SP 36.5c up 26% yesterday on 5m shares traded.
Disc. Been in this one for a long long time - now for some redemption.

Heavy trading again today. SP up another 20%. Apparently Patterson's Sec. put $3 on it.

[kiwitrev]

Today close 34% 8m traded

[Joshuatree]

Starting to reap the rewards of holding longterm Trev , 8 to 10 years? Traded it, free carried , hows your story run on this patient play? And congrats on coming good atm.

[JBmurc]

Great results for holders ...hoping RLE can do the same on flow results

[kiwitrev]

Starting to reap the rewards of holding longterm Trev , 8 to 10 years? Traded it, free carried , hows your story run on this patient play? And congrats on coming good atm.

Thanx JT. Not a home run just yet but at least gives one reason to be optimistic. Bought in on profit from another stock and reluctant to turn a paper loss to real one as my other investments were keeping above water. Also realised early on would be a long term play (but not this long). One thing I do know am in the right space (Oz energy-critically short on gas East Coast) with BUL also in the mix.
Cheers

[kiwitrev]

Going gangbusters today up 18% 1hr in on huge volume-looking very good

[kiwitrev]

Going gangbusters today up 18% 1hr in on huge volume-looking very good

Trading Halt lifted-CR to sophisticated inv.- SP last trade today 50c up 19%. Looking better every day.

[kiwitrev]

Trading Halt lifted-CR to sophisticated inv.- SP last trade today 50c up 19%. Looking better every day.

The punters can't get enough. After small retracement yesterday taking off again today-up 13% to 56c, has been up to 57.5c.

[kiwitrev]

The punters can't get enough. After small retracement yesterday taking off again today-up 13% to 56c, has been up to 57.5c.

Close y'day 53.5cps. On 10/7 PP $5m to sophis. investors. On 17/7 a top 10 SH filed notice lifting SH to over 5% (CS Fourth Nominees) from 3.7%. Some serious positioning in play.

[kiwitrev]

Latest valuation and presentation. Worth a good look. DYOR.
https://hotcopper.com.au/threads/ann-glenaras-gas-project-production-operations-update.4320122/page-5?post_id=34537278#.W1am_PZuI2w

[kiwitrev]

Any TA techies out there who would like to pass comment on this post from HC. All sounds good but no TA expertise.
https://hotcopper.com.au/threads/36c-patersons-say-over-3.4266276/page-118?post_id=34583864#.W1obefZuI2w

[kiwitrev]

Any TA techies out there who would like to pass comment on this post from HC. All sounds good but no TA expertise.
https://hotcopper.com.au/threads/36c-patersons-say-over-3.4266276/page-118?post_id=34583864#.W1obefZuI2w

It's all happening for GLL. Morgan Stanley increase holding from 8m to 13m shares or 6.8% now 2nd largest holder. Looks like still some capacity to go (much) higher. Could be an interesting day.

[kiwitrev]

It's all happening for GLL. Morgan Stanley increase holding from 8m to 13m shares or 6.8% now 2nd largest holder. Looks like still some capacity to go (much) higher. Could be an interesting day.

Mitsubishi now part of the MS trade. Gets better every day but strange reaction to SP after great news. That's the sharemarket always full of surprises.

[kiwitrev]

And Credit Suisse previously 3.52 to 4.63 and now SSH at 5.06%. Geez the instos interest in GLL is with details yet to come of 6m trade recently probably involving HSBC.

[kiwitrev]

And Credit Suisse previously 3.52 to 4.63 and now SSH at 5.06%. Geez the instos interest in GLL is with details yet to come of 6m trade recently probably involving HSBC.

Credit Suisse in/out/in but still SSH. Big action today currently up 11% at 70c.

[kiwitrev]

Credit Suisse in/out/in but still SSH. Big action today currently up 11% at 70c.

CanAccord initiate coverage. Extract from report,
https://hotcopper.com.au/threads/cg-initiated-coverage-with-buy-76c-to-2-20.4346715/page-21?post_id=34832883#.W2vA4vZuI2w

[kiwitrev]

CanAccord initiate coverage. Extract from report,
https://hotcopper.com.au/threads/cg-initiated-coverage-with-buy-76c-to-2-20.4346715/page-21?post_id=34832883#.W2vA4vZuI2w

Here's the whole report.
http://galilee-energy.com.au/wp/wp-content/uploads/2018/08/Canacord.pdf

[kiwitrev]

Here's the whole report.
http://galilee-energy.com.au/wp/wp-content/uploads/2018/08/Canacord.pdf

New milestone-FIRST GAS in last drilling announcement. Also another new high profile SSH emerges, Copulos Group with 5.55%, probably takes top 10 SH to about 40% and SP yesterday gains 5c to 75c.

[kiwitrev]

CanAccord initiate coverage. Extract from report,
https://hotcopper.com.au/threads/cg-initiated-coverage-with-buy-76c-to-2-20.4346715/page-21?post_id=34832883#.W2vA4vZuI2w

CanAccord raise target SP to $1.11

[kiwitrev]

CanAccord raise target SP to $1.11

At last the broker report referred to has surfaced via HC post:
https://hotcopper.com.au/threads/ann-glenaras-gas-project-first-gas.4360473/page-58?post_id=35162207#.W3-Z9fZuI2w

[kiwitrev]

At last the broker report referred to has surfaced via HC post:
https://hotcopper.com.au/threads/ann-glenaras-gas-project-first-gas.4360473/page-58?post_id=35162207#.W3-Z9fZuI2w

Post on HC reports a trade on Chi-x 10.5m shares at the close Friday-a SSH amount (at these elevated prices).

[kiwitrev]

Post on HC reports a trade on Chi-x 10.5m shares at the close Friday-a SSH amount (at these elevated prices).

SSH filed today - another heavyweight insto, Deutsche Bank - 5.34%. Have I got any NZ buddies?

[silu]

I'm sure you got buddies in NZ ;) But on a serious note - I don't know mining stocks at all. The few I had or have I have followed advice. But of late all the mining stocks I looked at e.g. AUZ, AVZ, KRC etc all had the same trajectory. A sharp increase in SP just to be followed by a a prolonged downtrend. NOT saying at all that his is going to happen with GLL as well but that's an explanation why a mining noob like me is staying out. Hope you're making bucks :)

[kiwitrev]

I'm sure you got buddies in NZ ;) But on a serious note - I don't know mining stocks at all. The few I had or have I have followed advice. But of late all the mining stocks I looked at e.g. AUZ, AVZ, KRC etc all had the same trajectory. A sharp increase in SP just to be followed by a a prolonged downtrend. NOT saying at all that his is going to happen with GLL as well but that's an explanation why a mining noob like me is staying out. Hope you're making bucks :)

Thx for your best wishes but I'm pretty sure I am flying solo on this one. We (you and me) do however share a common interest in ATC, hoping recent hiccup just a blip when it should just be plain sailing from here (it's always about the funding).

[JBmurc]

Yeah well I have got funds invested in a peer company RLE ..trev but GLL never really excited me but have been proven wrong of late of course but I'm not about to jump ship as I'm sure as I do that GLL will fall and RLE would announce great flow rates and head towards 40c+

Has GLL flowed and great amounts of gas yet? I understood they had mostly water to date ...RLE, of course, had similar issues on there first well but confident these lastest two will be developed much differently to avoid the water issues

[kiwitrev]

Hi JB
Still in relatively early on in drilling program but first gas has started to flow-last report attached. Due another report anytime now.
http://galilee-energy.com.au/wp/wp-content/uploads/2018/08/August-15-2018-ASX-Release.pdf

[kiwitrev]

Hi JB
Still in relatively early on in drilling program but first gas has started to flow-last report attached. Due another report anytime now.
http://galilee-energy.com.au/wp/wp-content/uploads/2018/08/August-15-2018-ASX-Release.pdf

Drilling report not released yet, however appears some speculation it's on the way and very good judging by SP so far today-north by 12% to 76.5c

[kiwitrev]

Final and single trade today 500k @ 78c

[kiwitrev]

Drilling report not released yet, however appears some speculation it's on the way and very good judging by SP so far today-north by 12% to 76.5c
More positive news on production update.

https://www.asx.com.au/asxpdf/20180913/pdf/43y965fkgp7h1x.pdf

[kiwitrev]

More positive news on production update.

https://www.asx.com.au/asxpdf/20180913/pdf/43y965fkgp7h1x.pdf

Another news positive. Morgan Stanley ups stake to 8% still second largest SH. Several large banking instos amongst largest holders.

[kiwitrev]

GLL in final phase of transitioning gas resources to reserves. Coy expects completion of tests by October and reserves status by end of year. Pipeline to connect to East Coast Australia by Jemena gaining pace. There is an updated valuation/report by Cannacord Genuity 24 July, unfortunately seemingly unable to post it. Anybody wanting to view it can see it on the HC post by Oil&Gas Planning(PDF file). SP April 2018 20c, close yesterday 96c on good volume throughout latest trading period. Earlier valuation by Patterson Securities suggested $3 possible. Management have skin in game. As always DYOR.

[kiwitrev]

GLL in final phase of transitioning gas resources to reserves. Coy expects completion of tests by October and reserves status by end of year. Pipeline to connect to East Coast Australia by Jemena gaining pace. There is an updated valuation/report by Cannacord Genuity 24 July, unfortunately seemingly unable to post it. Anybody wanting to view it can see it on the HC post by Oil&Gas Planning(PDF file). SP April 2018 20c, close yesterday 96c on good volume throughout latest trading period. Earlier valuation by Patterson Securities suggested $3 possible. Management have skin in game. As always DYOR.

Update today on pipeline.https://www.afr.com/companies/energy/jemena-eyes-naif-to-back-600m-galilee-gas-pipeline-20190729-p52btc

[kiwitrev]

Update today on pipeline.https://www.afr.com/companies/energy/jemena-eyes-naif-to-back-600m-galilee-gas-pipeline-20190729-p52btc

Mid session plus 10c today-crazy good. Have I got any mates out there?

[JBmurc]

No but I wish I did jump on when I exited RLE months ago in the 20's .. brilliant run to date

[BobbyMorocco]

Mid session plus 10c today-crazy good. Have I got any mates out there?

I tried to join the party last Friday as it broke out but just missed my order and decided not to chase. I wish I had! You've had a crazy good run over the past year and have done well to hold on. Well done, I hope you get to enjoy a few more days like today. Enjoy the ride!

[kiwitrev]

I tried to join the party last Friday as it broke out but just missed my order and decided not to chase. I wish I had! You've had a crazy good run over the past year and have done well to hold on. Well done, I hope you get to enjoy a few more days like today. Enjoy the ride!

Thanks BM. If I told you how long I have held you would say I am nuts. However am not a trader but a value investor.

[kiwitrev]

Thanks BM. If I told you how long I have held you would say I am nuts. However am not a trader but a value investor.

Another strong day up 9% or 9.5cps on decent volume-all recent trades appear to be retail investors. For myself I would find it difficult to buy in to any share that's had such a great run up but the punters keep on coming.

[JBmurc]

Nice Purchased some BLU today hoping it will get some luv one of these days like GLL has had .. Huge Gas Reserves 29c broker valuation just need some traction on project to see the market go GLL on BLU shares

[kiwitrev]

Don't see BLU with similar SP to GLL even if they successfully get gas to market. BLU have far more potential PJ than GLL but big difference are number of SOI. GLL 226m-BLU over 1b more.

[JBmurc]

Don't see BLU with similar SP to GLL even if they successfully get gas to market. BLU have far more potential PJ than GLL but big difference are number of SOI. GLL 226m-BLU over 1b more.

yeah, of course, more so % wise ... BLU must surely be one fat target for the major Gas producers

[kiwitrev]

yeah, of course, more so % wise ... BLU must surely be one fat target for the major Gas producers

Sure is, the problem being no way to reasonably assess how long it will take. Could be in short/medium term or years away. State and Fed. govts will have a big part to play.

JB, do you still hold ATC? If not you might want to catch up with latest developments. I remember your post of a few years ago where you said "one of my favourite companies".

[kiwitrev]

And now potentially a significant bonus.
http://galilee-energy.com.au/wp/wp-content/uploads/2019/07/ATP-2043-Formal-Award-and-Resource-Booking-1st-August.pdf

[BobbyMorocco]

Thanks BM. If I told you how long I have held you would say I am nuts. However am not a trader but a value investor.

Fair enough, you've been holding a long time so I'm glad to see it coming good for you after all that time.

[kiwitrev]

Appreciate your comments BM. The good news keeps coming. Last night 3rd largest SH filed notice upping holding by 2m shares to now hold approx. 8%. Was previously holding 15m shares so clearly is expecting a Reserves announcement.

[kiwitrev]

Yep. Market likes that news, up 12.5c so far. Sorry if you guys missed the train, hopefully some jumped on.

[JBmurc]

Yep. Market likes that news, up 12.5c so far. Sorry if you guys missed the train, hopefully some jumped on.

No, but got some more BLU which looks to be getting some love now

[kiwitrev]

Trying to but need some volume. BTW GLL $1.30.

[BobbyMorocco]

Yep. Market likes that news, up 12.5c so far. Sorry if you guys missed the train, hopefully some jumped on.

I feel like I was on the platform but the doors closed on me as I tried to hop onboard. I put my bid in at 86.5c going into the closing auction last Friday. It closed at 87c. I had another look on Monday morning but when it opened at 90c I decided that this train wasn't for me. I never expected that one week later it would close at $1.25 after touching $1.40 earlier in the day.

I'm a bit sad that I'm not on the train with you Trev but I think you deserve to be onboard more than I do. Please keep us updated on how the GLL train is travelling.

[kiwitrev]

I was considering not posting any more as seemed a bit self serving but I will keep you up to date.
One of the HC posters says Morningstar have a fair value of $1.81 so right or wrong still heading North.

[BobbyMorocco]

I was considering not posting any more as seemed a bit self serving but I will keep you up to date.
One of the HC posters says Morningstar have a fair value of $1.81 so right or wrong still heading North.

While I can understand that some people could possibly have a problem with it, personally I like hearing about other people's success stories. Essentially that's why we're here isn't it, to try and make some money?

Seeing your posts alerts me to the possibility that the GLL share price is moving quickly and prompts me to have a scan of the charts to see if I think I can make a profitable trade. Plus you also usually share some fundamental news in yours posts which is handy to know as it helps to understand why the share price might be moving the way it is.

As you can see I find your posts beneficial and if others don't they don't have to tune in. Although I would have thought that if we wanted to create a positive community within the sharetrader forum that people would come here, see your posts and be happy to share your success with you.

Good luck with GLL Trev you have my support and who knows I might end up on the GLL train with you one of these days. The ride looks far from over!

[kiwitrev]

That makes me feel a bit better BM. I try to share as much info as is available and never put spin on my posts, just recording published facts.
Here is some old news worth reading, an August 2018 report by Cannacord Genuity initial coverage of GLL. We are a long way down the path since then and in addition to what's happening on the ground if one just wants to focus on CG estimate of SP the short answers are.

Target price 76c (this is on a DCF basis-discount cash free)

Unrisked valuation $2.20

On basis of 500pj Reserves booked $4.80 (based on historic transactions)

Again this is from an August 2018 valuation. The company have stated many times they are targeting 500+pj and recent test reports, subsequently a major SH increasing holding and very strong SP increases every day are in my view excellent indicators yet plenty of mileage in this one. As everyone says DYOR, plenty of available material available.

[kiwitrev]

That makes me feel a bit better BM. I try to share as much info as is available and never put spin on my posts, just recording published facts.
Here is some old news worth reading, an August 2018 report by Cannacord Genuity initial coverage of GLL. We are a long way down the path since then and in addition to what's happening on the ground if one just wants to focus on CG estimate of SP the short answers are.

Target price 76c (this is on a DCF basis-discount cash free)

Unrisked valuation $2.20

On basis of 500pj Reserves booked $4.80 (based on historic transactions)

Again this is from an August 2018 valuation. The company have stated many times they are targeting 500+pj and recent test reports, subsequently a major SH increasing holding and very strong SP increases every day are in my view excellent indicators yet plenty of mileage in this one. As everyone says DYOR, plenty of available material available.

For some reasons link not working so try GLL site (ref. Cracking the Code)
http://galilee-energy.com.au/news

[kiwitrev]

Also refer to my post on HC today for important info. about further reserves.
https://hotcopper.com.au/threads/ann-atp-2043-award-and-maiden-resource-booking.4887454/page-15?post_id=39855762

[kiwitrev]

Also refer to my post on HC today for important info. about further reserves.
https://hotcopper.com.au/threads/ann-atp-2043-award-and-maiden-resource-booking.4887454/page-15?post_id=39855762
Dow Jones Newswires 2/8/2019 Cannacord Genuity raise Target Price 20% to $1.22.

Remember target price usually defined as 12month target.

[kiwitrev]

Latest news on pipeline to be built by Jemena (31/7/2019)
https://www.gastoday.com.au/2019/07/31/jemena-outlines-galilee-pipeline-route/

[kiwitrev]

Latest news on pipeline to be built by Jemena (31/7/2019)
https://www.gastoday.com.au/2019/07/31/jemena-outlines-galilee-pipeline-route/

Further news on pipeline plus additional info. from OGP on HC
https://hotcopper.com.au/threads/ann-glenaras-gas-project-operations-update-pipeline-milestone.4853668/page-26?post_id=39889496

[kiwitrev]

Further news on pipeline plus additional info. from OGP on HC
https://hotcopper.com.au/threads/ann-glenaras-gas-project-operations-update-pipeline-milestone.4853668/page-26?post_id=39889496

Cannacord Genuity have raised their target price from $1.22 to $1.41. Their report will be posted on GLL website soon.

[kiwitrev]

SP has retreated to $1.05 following downward trend in most markets. An interesting development yesterday, GLL director/s stumped up $1.5m+ for 2.1m options at 0.75cps. The exercise price is not that far from current SP so clearly a lot of confidence in management for a big return on their investment. The die will be pretty well caste by year end.

[JBmurc]

Yes, I wish I took some profits on many of my holdings earlier in the week .. but only so I could buy more shares in the same companies lower

[kiwitrev]

Latest pilot production report. Gas flowing at 25-30 Mscfd up from 15-20 in previous report 16 days earlier.
http://galilee-energy.com.au/wp/wp-content/uploads/2019/10/9-October-Operations-Updatel.pdf

[kiwitrev]

GLL included in analysts top nine picks. Analyst is Live Wire.
Galilee Energy (GLL-ASX)
GLL’s Glenaras gas pilot is reaching a critical point. It recently started to flow small volumes of gas and as de-watering continues, we expect gas rates to increase. If flow rates in the 0.3mnscf/d range are achieved, GLL believes it will be able to book 500PJ of 2P gas reserves. As one of the largest and proximal gas resources to the tight East Coast market, a positive result at the Glenaras pilot will, in our view, result in a material re-rating.

[kiwitrev]

Director buys 54k shares on-market at $1.06.

[kiwitrev]

Can anyone tell me what Special Crossing T2 T3 means on ASX. Understand Special Crossing is where broker acts for both parties but what does t2 t3 mean. 8m trade today at close.

[stoploss]

Can anyone tell me what Special Crossing T2 T3 means on ASX. Understand Special Crossing is where broker acts for both parties but what does t2 t3 mean. 8m trade today at close.

Its the settlement date Trade date +2 , or +3.

[wizAlvin]

only 30 + hours to get your 2020 picks in .... about ONE DAY

[kiwitrev]

Been an up and down period of trading as dewatering issues hamper reserves certification process. However 2 reports just to hand of interest. First broker report by Cannacord Genuity and secondly a post from HC.
https://hotcopper.com.au/threads/canaccord-report.5456943/?post_id=45349143
https://hotcopper.com.au/attachments/hot_copper_post_2020_06_20-pdf.2247472/?filename=Hot_Copper_Post_2020_06_20.pdf

[kiwitrev]

I know I'm the only poster on GLL but opportunity still awaits. This is ready to explode.
Latest broker report follows.
http://galilee-energy.com.au/wp/wp-content/uploads/2020/09/Blue_Ocean_Research_Note_Sept2020.pdf