- Galilee Energy (GLL) enters a trading halt as it plans for an upcoming capital raise
- So far, it is not known how much the company is aiming to raise or where the funds will be spent
- The halt means Galilee shares will be paused until Friday, February 25, or when further information about the raise is released to the market
- Galilee is a Brisbane based oil and gas exploration company focused on progressing its flagship Glenaras Gas Project
- Company shares last traded at 36 cents per share
Galilee Energy (GLL) has entered into a trading halt as it plans for an upcoming capital raise.
It is currently not known how much the company is aiming to raise or where the funds will be spent.
The halt means Galilee shares will be paused until Friday, February 25, or when further information about the raise is released to the market, whichever one comes first.
Galilee is a Brisbane based oil and gas exploration company focused on progressing its flagship Glenaras Gas Project, located in western Queensland’s Galilee Basin.
Recently, the company appointed David Casey as its new Managing Director.
Casey takes over from Peter Lansom who retired from the role early last year following the company’s announcement of a management restructure.
Mr Casey was the author of the original scoping study for GLL’s Glenaras Project in Queensland.
On the market, Galilee last traded at 36 cents per share.