Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has begun the countdown to the start of drilling at the Jackson-31 well, part of the Galactica Project in Las Animas County, Colorado, USA.
The company, in a statement, said that the drill rig has been mobilised and is currently rigging up at the well site.
It follows the completion of site works and the delivery of all casing, announced on 15 January.
Helium One expects to start drilling operations shortly after the rigging-up process is completed.
“Investors will keenly await news around the progress of the drilling with the upcoming campaign set to deliver maiden production in 2025,” Panmure Liberum analyst Ashley Kelty said in a note.
Kelty noted, meanwhile, that the drill schedule in Colorado includes a further four wells (Jackson-4 and three more, which will follow Jackson-31).
The company holds a 50% interest in the Galactica project.