Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has reported successful drilling and confirmed free gas at its Jackson-27 development well in Colorado, the latest in a string of promising results from the Galactica-Pegasus helium project.
The fourth well in the development drilling programme reached total depth at 1,183 feet and encountered 60 feet of gas-saturated sands within the Upper Lyons Sandstone Formation.
Early signs suggest high-quality reservoir characteristics, with porosity in the 22–26% range, based on data from nearby offset wells. Crucially, no water was encountered, and natural gas flows were observed both during drilling and at depth, a positive indicator of good reservoir communication.
Initial gas samples are now being analysed for helium and carbon dioxide content. A wellhead is being installed ahead of flow testing, which, if successful, would see Jackson-27 readied for tie-in to production facilities.
CEO Lorna Blaisse told investors: "Seeing these wells perform consistently, with good flow rates and helium concentrations, supports strong reservoir connectivity and excellent reservoir quality in the Lyons Sandstone Formation across the Galactica Project.
"We look forward to continuing this drilling campaign with Blue Star as we advance towards production."
The rig will next move to the Jackson-2 well site, as development across the Galactica-Pegasus project, a joint venture with Blue Star Helium, continues to accelerate. For Helium One, these latest results bolster confidence in its US foothold alongside its core Tanzanian exploration assets.