Ann: Ceasing to be a substantial holder, page-7

They must be getting close to hitting gas flows soon.

"Galilee Energy Limited (“Galilee Energy” or “the Company”) is pleased to announce that the Glenaras multi-lateral pilot is continuing to perform strongly and demonstrating excellent water rates, with both wells flowing water rates in excess of 2,800 BWPD in aggregate, with the current fluid level at approximately 530m from surface. In addition, there is evidence of direct communication between each of the lateral wells which is enhancing pressure drawdown in the pilot area.

“The results continue to be extremely encouraging, the water rates are at the upper end of our pre- drill expectations. We have seen pressure drawdown in the monitoring well and the communication between the lateral wells is direct evidence of the reservoir shielding that we were anticipating.”Managing Director Peter Lansom stated."