Australia's Galilee Energy gains on technology license agreement

Shares of Galilee Energy GLL.AX rise 16.7% to A$0.007, set for strongest session since March 11, if current gains hold

Sustainable energy co announces a technology license agreement with Novus Energy Trading Company

Says will collaborate with co on technical assessment to identify permeability modifications for improving drainage and production efficiency at Glenaras Gas Project in Queensland, over a four-month period

Under the agreement, Novus will receive A$300,000 ($188,430) per month in license fees

GLL more than doubled in value to A$0.012 earlier in the day, their highest level since January 28

14.7 mln shares change hands, 11.4x the 30-day average of 1.3 mln

Stock flat as of YTD, including current session's moves

($1 = 1.5921 Australian dollars)