Galilee Gets Queensland Acreage
Australian Galilee Energy has been given a preferred tenderer status for block PLR2018-1-8 by the Queensland government and has been awarded the exploration acreage in the most recent release of new petroleum resource areas, it said May 28.
The company has been awarded a 384 km2 Surat Basin exploration area within the overlapping Walloon coalbed methane (CBM) fairway and the oil-prone eastern flank of the Taroom Trough.
Galilee managing mirector Peter Lansom said the company was delighted to have the opportunity to play its role in exploring for and delivering a new gas supply to the east coast of Australia. “Galilee applaud the efforts of the Queensland government in addressing gas supply concerns by opening up the market to junior and mid-tier explorers to provide diversity and efficiency, to explore and develop new areas and thereby drive growth in regional areas,” Lansom said.
Galilee was awarded the acreage following a non-cash consideration as part of a competitive tender process. This new acreage is less than 10 km from established CBM production facilities and adjacent to the south of the Ironbark CBM asset which was recently acquired by APLNG, Galilee said.
The area is significantly under-explored and will benefit greatly from Galilee applying contemporary exploration technology to advance the understanding of this highly prospective area, the company said.