Blue Star Helium Limited (ASX:BNL, OTCQB:BSNLF) (Blue Star or the Company) is pleased to provide a status update on development well permitting at its Galactica helium project in Las Animas County, Colorado.
The Colorado Energy and Carbon Management Commission (ECMC) has advised that it will hear the application to approve Galactica Pegasus OGDP I on 4 September 2024. The OGDP includes 5 new development well locations. The Company will apply for final permits to drill these wells after the hearing. This final stage of the process is expected to take approximately 2 weeks based on our most recent experience. Accordingly, we expect to commence drilling these wells in Q4 of this year.
The 5 well locations and the associated facility are identified on the map below. These wells, together with State 16, are expected to form the initial gas gathering system into the Galactica helium production facility. The Company is targeting Q4 of this year for installation of the facility and tie in of wells.
Contact:
Trent Spry
Managing Director & CEO
Tel: +61 8 9481 0389
Email: info@bluestarhelium.com
About Blue Star Helium
Blue Star Helium Ltd (ASX:BNL, OTCQB:BSNLF) is an independent helium exploration company, headquartered in Australia, with operations and exploration in North America. Blue Star's strategy is to find and develop new supplies of low cost, high grade helium in North America. For further information please visit the Company's website at www.bluestarhelium.com
About Helium: Helium is a unique industrial gas that exhibits characteristics both of a bulk, commodity gas and of a high value specialty gas and is considered a 'high tech' strategic element. Due to its unique chemical and physical qualities, helium is a vital element in the manufacture of MRIs and semiconductors and is critical for fibre optic cable manufacturing, hard disc manufacture and cooling, space exploration, rocketry, lifting and high-level science. There is no way of manufacturing helium artificially and most of the world's reserves have been derived as a byproduct of the extraction of natural hydrocarbon gas.
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