Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) has provided an update on the Galactica-Pegasus helium development project in Colorado, USA, where the production facility has now reached substantial completion and commissioning is due to begin this week.
Helium One said the gathering system has been successfully pressure tested and tied in to the production facility. First gas remains scheduled ahead of year-end as the project moves toward initial production under the joint venture structure.
Lorna Blaisse, chief executive officer of Helium One Global, said: “I am pleased to announce that we are approaching the commencement of production at the Galactica project in partnership with Blue Star.” She added: “This achievement marks a significant milestone for both the Joint Venture and our respective organisations.”
"I would like to commend the commitment of the onsite teams, whose efforts have ensured we remain on track to deliver first gas before year-end. We very much look forward to entering the next phase as a producer."
The Galactica-Pegasus project is operated by Blue Star Helium, with Helium One holding a 50% working interest.