Blue Star Helium Ltd (ASX:BNL, OTC:BSNLF) is awaiting approval for the first four helium wells at the Galactica/Pegasus prospect and two at the Voyager prospect, with three more well applications to be submitted in the coming weeks.
Notification has been received of a Colorado Oil and Gas Conservation Commission (COGCC) approval hearing date (Form 2A Oil and Gas Development Plan (OGDP)) for the four planned helium appraisal and development wells.
The Galactica/Pegasus wells are set for approval hearing on July 19, 2020, selected to allow rapid follow-up appraisal and development of the helium discoveries of up to 3.14% helium announced last week.
Blue Star will lodge permits to drill (Form 2) in respect of each well after approval at the hearing.
Read: Blue Star Helium higher on multiple discoveries at Galactica/Pegasus in Las Animas County, Colorado
Voyager prospect
The two well applications at Voyager were similarly submitted for approval following a “breakthrough” helium discovery of a 134-foot gas column registering an 8.8% helium concentration.
Voyager is being fast-tracked for development following these results, with a total of five wells planned for initial production in the field development plan.
Investigating the Voyager opportunity is of particular interest to Blue Star, as the contained gas reserves have not yet been included in Blue Star’s current Las Animas P50 (probably or 50% likely) net un-risked prospective helium resource of 13.4 billion cubic feet.
Blue Star’s lease holding and key wells – Enterprise-Voyager area.