Short summary on GLL:
GLL has 2 tenements in Galilee basin near Mt Isa ? I note that behemoth CNOOC (Chinese National Oil Co) is in a JV with Australian listed tiddler, Exoma Energy also in Galilee Basin. CNOOC has spent $50mil here on Exoma
From talking with Westside Energy CEO (WCL ? another coal seam gas company partnered with British Gas in Galilee Basin), the Chinese may think there is potential for shale gas here
$11.6mil in cash at end of Dec Qtr, another $35mil to come from sale to Bathhurst Resources ? this amount is contingent upon NZ govt regulatory approvals and is expected to complete by March
$46.6mil cash - $3mil debt, divided by 152,140,466 shares on issue = 29c/share in cash alone (excluded value of other assets). Last traded price 24c
50/50 JV with AGL
Potentially a 20TCF gas resource in place
up 20%, page-2
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Last
1.1¢ |
Change
0.001(10.0%) |
Mkt cap ! $5.757M | |||
| Open | High | Low | Value | Volume |
| 1.0¢ | 1.1¢ | 1.0¢ | $2.724K | 248.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1551000 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 634987 | 1 |
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| Last trade - 12.55pm 03/12/2024 (20 minute delay) ? |
| GLL (ASX) Chart |
