Blue Star nears approval to progress Galactica/Pegasus and Voyager helium wells
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Blue Star is moving to rapidly follow up on the multiple helium discoveries made by exploratory water wells at the Galactica/Pegasus and Voyager prospect in Colorado.
The company’s first four well locations, which will appraise and develop on the discoveries that intersected gas with up to 3.14% helium concentrations in the primary target Lyons formation, are set for approval hearing on 19 July.
Once these are approved, Blue Star Helium (ASX:BNL) will lodge the final permits to drill the four wells.
It is not just the Galactica/Pegasus wells on the agenda for Blue Star, which has also submitted locations for the first two helium well locations at the Voyager project where an exploratory water well intersected a 134ft gas column with 8.8% helium concentration.
Another three locations will be submitted in the next few weeks at Voyager.
The company noted that these five Voyager wells represent the initial planned production wells of the field development plan.
Planning is currently underway for the Phase 2 development well locations with Blue Star noting that these are being designed to deliver a substantial degree of flexibility and responsiveness with respect to progressive Phase 1 well outcomes.
An independent resource consultant is undertaking an update of the Galactica/Pegasus resource as well as the first independent resource assessment for Voyager.
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.