Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) announced the test results for the Jackson-2 well, at the Galactica project, which flowed naturally.
The company said that since drilling the well has been tested with a flow rate of over 250,000 cubic feet per day, and it's projected to achieve stabilised rates between 300,000 and 400,000, with a maximum rate of 500,000 expected.
A gas sample measured up to 1.22% helium.
“Understanding the flow potential and reservoir gas composition in this part of the field is key to defining the helium-CO2 development going forward,” the company said in a statement.
It added: “Strong pressure build-up post-testing indicates high permeability and good reservoir communication.”
Jackson-2 was drilled on the far southeastern extent of the Galactica project area. It was drilled down to 1,232 feet, into the Upper Lyons formation, and no water was encountered during drilling of the formation.
Wireline logging indicated the reservoir was of high quality and gas saturated.