The numbers, calculated by MHA Petroleum Consultants, include eight step-out wells as well as the Glenaras pilot, and include 1C resources of 398PJ and 2C potential of 2507PJ.

The 2C resources are up 868% from the 2011 figures calculated by SRK Consulting of 258PJ, when Galilee shared its long-standing project with former 50% partner AGL Energy.

“The ATP 529P resource upgrade highlights its significant potential to become an economic gas supplier into the Australian east coast gas market,” managing director Peter Lansom said.

“The larger resource greatly improves the projects economics and feasibility as a high quality gas supplier to meet the forecasted east coast gas shortage.”

Galilee intends to expedite the R1 coal seam test program at ATP 529P, with testing of the uppermost seam to begin next month at a cost of around $2 million.

The aim of the test will to try a new completion, and to allow pressure drawdown of the coal without any contribution from neighbouring sands.

So far the Glenaras pilot has not produced at commercial rates, despite the excellent resource concentration of the coals.