Galilee Energy cash backed at $0.17, trading at $0.125 - Galilee - TopicsExpress

Galilee Energy cash backed at $0.17, trading at $0.125 - Galilee Energy (ASX: GLL) is sitting on a whopping $26 million in cash, in addition to its substantial energy assets in Queenslands Galilee Basin, and is capitalised at a mere $19 million.That equates to a cash backing of around $0.17, compared to its last traded price of $0.125.The company is involved in a 50-50 coal seam gas joint venture with AGL Energy (ASX: AGK), the Galilee Gas Project pilot at Glenaras.The... ow.ly/2GcuCN

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