Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) told investors that, due to weather conditions, rig mobilisation for the Galactica-Pegasus project in Colorado, will start in early February.
The company, in a statement, noted that the access roads are being gravelled to help in the conditions, and it expects mobilisation will start in the week beginning February 10.
“Road gravelling operations are progressing well despite recent severe winter weather impacting much of the USA,” Helium One said.
Jackson-31 SENW 3054 will be the first of two initial wells and a further three are planned.
Helium One said the final drilling sequence will be confirmed after Jackson-4 is completed.
Elsewhere, permitting and engineering work for the Pinon Canyon processing plant is ongoing.
Helium One is targeting first production in the first six months of 2025.