Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) confirmed it has tapped ‘free gas’ at its Jackson-29 well, in Colorado, where further testing will now be undertaken.
The well flowed naturally during drilling and at total depth, and no water was encountered, the company noted.
Jackson-29 was drilled down to a total depth of 1,183ft and encountered gas-saturated sandstone in the Upper Lyons Sandstone Formation. It cut 61 feet of reservoir-quality sands, with 22–26% porosity, Helium One added.
Gas samples have been sent to the lab to measure helium and CO2 concentrations.
A well-head is now being installed, before surface pressure readings and flow testing are carried out.
Following a programme of testing, its expected that Jackson-29 will be put on production.
Helium One, meanwhile, said that the drill rig will be moved to the location of the next well (Jackson-27) where currently drill-pad construction is underway.