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progress report

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    Galilee Project Update

    Document date: Fri 27 Jun 2003 Published: Fri 27 Jun 2003 14:38:38
    Document No: 153508 Document part: A
    Market Flag: N
    Classification: Progress Report
    EASTERN CORPORATION LIMITED 2003-06-27 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    An increase in gas casing pressure in well number 4 has been
    observed. This occurrence remains consistent with the expected
    performance of Galilee Energy Ltd's management team.

    Steps will now be taken to steadily reduce the water level in well
    number 4 and factors that could impact on this process include pump
    performance and capacity.

    Galilee management wishes to emphasise that at this stage while there
    are some promising initial signs, it is much too early to reliably
    predict that a sustainable gas flow (in any significant quantities)
    will occur. This can only be identified more specifically over the
    next few weeks.

    D K Barwick
    CHAIRMAN
 
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