Australia's Galilee Energy rises as Glenaras pilot hits record gas rates

Gulf Stream Energy

19/12/2022 03:25

** Shares of Galilee Energy  GLL.AX  rise as much as 6% to
A$0.265, sees best day since Dec 9, if gains hold
    ** Energy co says Glenaras multi-well pilot, under the
Glenaras Gas Project in Queensland’s Galilee Basin, achieved a
record gas rate in excess of 100 mscfd   
    ** Adds, reservoir pressure sink observed to be deepening
and widening across the pilot
    ** More than 577,000 shares change hands, vs 30-day average
volume of about 224,000 shares 
    ** Stock has fallen 34.2% this year, as of last close
 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))