As a retail shareholder I am seekingclarification of the...

As a retail shareholder I am seekingclarification of the development plans for the Glenaras pilot.

Quo Vadis is a Latin phrase meaning"Where are you marching?”

The following post andattached documents are not intended as investment advice.

They are provided as aframework for Galilee shareholders to review the current status of 2P reservecertification for ATP 2019.

As many of you know I haveput significant work into developing an extensive model which facilitates rapidfield development planning and costing.

The latest version integratesthis with the Langmuir curve and Darcian flow calculations.

This model has been appliedto the Elixir project in Mongolia which has a common director with GalileeEnergy.

The following links show.pdf Extracts from the Galilee model and I sympathize with readers of the wholething is a bit overwhelming at first.

Some of you however shouldalready be familiar with the format.

Model_Pages_1_3.pdf
Model_Pages_4_6.pdf
Model_Page_12.pdf

It is importantto bear in mind that we are dealing with unsaturated coals.

The following link gives apretty good general overview of Unsaturated Coals and is worth reading first toget a general impression of the realities of monetizing gas extracted fromthese coals.

https://www.searchanddiscovery.com/pdfz/documents/2006/06034lamarre/images/lamarre.pdf.html

My presentthinking is that piloting of the unsaturated Galilee Basin coals, in stratigraphywith the sort of permeability we have encountered, is a miniature version of thetype of field development outlined above by Lamarre and consequently requiresmore capital and time than piloting of highly saturated coals.

Historically, I fullysupported the piloting approach based on horizontal drilling and the additionof the surrounding vertical wells following the Schlumberger analysis using theEclipse software.

IMO the presentpilot will need further development and additional vertical wells will beneeded around the present pilot to form a 3-stage pressure drawdown systemsimilar to that used widely on deep underground mining operations.

This probably explains whythe legacy pilots to date were not successful.

My version of scalable pilotFDP is explained in more detail in the Glenaras Pilot Review below.

Glenaras Pilot Review

Glenaras_Pilot_Report.pdf

It now lookslike we may have reached a point where some serious capital investment may needto be risked to reach commercial success with this project.

On the positive side, arenow operating with a lot more sub surface data than we had when we designed thehorizontal drilling pilot.

IMO everyone has benefitedthough this initiative and combined with a tremendous amount of legacy data(Much of which is published in peer reviewed academic papers), and I for onehave a much clearer picture of the drainage characteristics of ATP 2019.

I invested in Galilee at avery early stage and sold down to a nominal shareholding at a 400% return inthe second quarter of 2021.

If a commercial pilot cansuccessfully prove that say 3.75 TJ/Sq.KM of gas is extractable, thisproject has significant returns left in it, particularly at today’s marketcapitalization.

IMO the significance of the pressuredraw-down radius of 7KM is easy to miss, particularly at the present pumpingrates.

To make a sound re-investmentdecision at this point though, I would need to gain a much more detailedinsight into Galilee’s future piloting plans.

I welcome David Casey whohas an excellent reputation within the industry as our new Managing Director.

I believe though that thefuture development of ATP2019 is very much a full-time hands-on exercise.

As a result of myMongolian interests, I am watching the Geopolitical climate very closely.

China looks to Turkmenistan for more gas as it cutsAustralian supplies

https://www.scmp.com/news/china/diplomacy/article/3133084/china-looks-turkmenistan-more-gas-it-cuts-australian-supplies

And

China, Russia eyesupercharged energy ties as shield against US.

https://asia.nikkei.com/Politics/International-relations/China-Russia-eye-supercharged-energy-ties-as-shield-against-U.S

And

ELIXIRENERGY LIMITED (ASX:EXR) - EXR Trading 2021, 58574966, page-8004 - HotCopper |ASX Share Prices, Stock Market & Share Trading Forum

If Australia is drawn in tothe Taiwan situation, I can see China backing off on LNG imports.

Thetwo areas I would like particularly like to see more detailed reporting on are:

1.00 A preliminary Langmuir curve showing the CriticalDesorption pressure and the expected Abandonment Pressure influenced by thecoal characteristics and practical field drainage pressure limitations.

TheLangmuir curve is important because it is used, amongst other things, to determinethe available gas at the critical desorption pressure and provides anindication of the gas that is extractable when the lower practical limit of thedownhole pressure is reached (At the lower coal seams).

2.00A costed field development plan for development of the present Glenaras pilotwhich would ensure a drainage model capable of achieving the abandonmentpressure across the R1-R7 seams.

Iwould hope it would address many of the issues that are covered in the above PreliminaryGlenaras Pilot Report .pdf

Hopethat the above provides at least some sort of a framework for debate.

Bestwishes for 2022 and good luck to all.

Regards

OGP