Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Galilee Energy Limited is an Australia-based energy company. The Company has a portfolio of assets focused onshore Australia. The principal activity of the Company is oil and gas exploration and production. It has tenement interests and exploration and evaluation activities in Australia, United States and Chile. The Company’s flagship project is Glenaras Gas Project, which is located in the Galilee Basin near Longreach in Queensland. Its Glenaras Gas Project holds ATP 2019 permit, which covers an area of approximately 3,247 square kilometers (km2). Its Kumbarilla Project holds ATP 2043 permit, which is located within the Southern Downs region approximately two kilometers east of Tara and 70 kilometers west of Dalby, which covers approximately 384 km2 of tenure over the eastern flanks of the Surat and Bowen basins. Its Springsure Project holds ATP 2050 permit, which covers an area of approximately 1,425 km2 permit of Bowen Basin exploration area in the northern Denison Trough.
GLL - Galilee Energy Ltd
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