Blue Star’s confidence in the ability of its Galactica / Pegasus prospects to star in its battle to find more helium is reflected in its submitting two additional development plan applications.

The new oil and gas development plans (OGDPs), for the Company’s helium appraisal and development, were filed with the Colorado Oil and Gas Conservation Commission (COGCC) in relation with seven new helium well locations at the prospects.

Blue Star Helium (ASX:BNL) adds that its initial four helium well locations are set for approval hearing later this month.

While the new OGDPs take the total number of helium well locations up to 11, the company is not stopping there with plans to submit a further two OGDPs in the coming weeks.

Following up on success

The planned wells are targeting production from the Lyons formation following the discoveries at the recently drilled JXSN wells, which returned helium concentrations of up to 3.14%.

Additionally, the JXSN wells also confirmed the company’s gas on log interpretations at the historical Denton B #1 and Colorado #B-1 wells, extending and proving gas over a large structural area predominantly leased by the company.

JXSN#3, the last of the three exploratory water wells drilled by Blue Star at Galactica / Pegasus, had intersected a larger than expected gas column outside its Galactica P50 prospective resource contour.

Flow rates were also consistent with data reported from the Model Dome field.



This article was developed in collaboration with Blue Star Helium, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.