Galilee Energy Limited in a trading halt

Galilee Energy Limited (ASX: GLL) has requested ASX to grant a trading halt of its securities with immediate effect, prior to commencement of trading on Monday 9 July 2018 pending the release of an announcement that is speculated to be about a proposed capital raising. By the provision of an announcement to the ASX regarding the proposed capital raising, Galilee Energy expects that the trading halt will be lifted on or before market open on 11 July 2018. Thus, pending an announcement to the ASX in relation to a proposed capital raising the trading halt has been requested. Galilee Energy is expecting that the trading halt should be granted and is not aware of any other information necessary to inform the market about the trading halt.

In last six months, the stock has risen about 189.66% as at July 06, 2018 but fell about 6.7% in last five days. This Brisbane based oil and gas exploration company has gained a lot of traction lately with many updates coming on its flagship Glenaras Gas Project. This project is strategically located in western Queensland’s Galilee Basin and the latest pilot program update has shown encouraging results. The group seems to be going ahead with the capital raising to have proceeds directed towards the project as the group intends to ramp up production soon.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s