Galilee Energy to commence drilling in Illinois

THE ROADHOUSE BOWSER: Galilee Energy (ASX: GLL) announced it is expecting drilling of the first well of its shallow oil program in Illinois to spud this week.

The well, Hanner 1 is located in Logan County and will be drilled to an estimated total depth (TD) of 2,990 feet.

The company said the drilling’s primary target is Silurian reefal limestone in the Racine Formation at an estimated depth of 1,550ft.

Secondary objectives are Devonian dolomites draped over the reef, and underlying Ordovician Trenton dolomites and St Peter sandstones at 2,100ft and 2,700ft respectively.

Subject to logistics following the drilling of the first well, Galilee indicated it expects to immediately move the drilling rig onto the second well of the program.

The Kramer 1 well is located in Sangamon County approximately 10 miles south of Hanner 1 and close to an existing oil field.

The drilling of this well will again target the Silurian Racine Formation at similar depths (approximately 1,590ft), but closer to the prolific producers located along the Mt Auburn trend eight miles to the southeast.

Galilee has secondary objectives for Kramer 1 in the Ordovician aged Trenton dolomites and St Peter sandstones, which are it expects to be deeper in this area and closer to the proposed 3,000ft TD.

“I am very excited to see the first drilling activity for Galilee shareholders in a number of years,” Galilee Energy managing director Peter Lansom said in the company’s announcement to the Australian Securities Exchange.

“These wells are low cost and shallow, with expected dry hole costs of less than $US200,000, yet are targeting material opportunities in each instance.”

Email: admin@galilee-energy.com.au

Website: www.galilee-energy.com.au