Helium One Global Ltd's (AIM:HE1, OTCQB:HLOGF) new helium project, Galactica Pegasus, in Colorado, gives the explorer clear growth potential, that’s according to Panmure Liberum analyst Ashley Kelty.
The company this week confirmed the completion of its farm-in to the Colorado project where multiple wells are planned, with drilling slated to start before the end of this year.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has confirmed the completion of its farm-in agreement with Blue Star Helium Ltd (ASX:BNL, OTC:BSNLF) (ASX: BNL) for a 50% stake in the Galactica-Pegasus helium project located in Las Animas, Colorado.
The deal sees Helium One commit to cover $1.50 million of the costs of six development wells, with drilling slated to commence in the fourth quarter of 2024.