Blue Star Helium Ltd (ASX:BNL, OTC:BSNLF) has confirmed the presence of a 233.5-foot gas column through analysis of the JXSN#4 helium discovery well logs at Galactica/Pegasus prospect in Las Animas County, Colorado.
The gas column is interpreted to hold 133.5 feet of net pay across the upper and lower Lyons zones, having been drilled to 1,043 feet of depth.
Comingled gas samples from the upper and lower Lyons that Blue Star considers representative of the reservoir returned calculated air-free helium results of 6.06% and 4.20% from two different analyses.
Results support development plans
“We are delighted to have returned high-concentration helium from JXSN#4,” Blue Star Helium managing director and CEO Trent Spry said.
“This is the fourth consecutive helium discovery on the Galactica/Pegasus field in the targeted Lyons formation.
“These four successful discovery wells on Galactica/Pegasus provide the structural and stratigraphic control and high helium reservoir gas composition for the planned offsetting development wells which are well advanced.
“The results of this well will be integrated into the current resource update process for Galactica/Pegasus which is expected to culminate in the declaration of contingent resources for this field.”
Blue Star has progressed seven proposed development wells to advanced stages of permitting, intended to follow up the four helium discoveries identified at Galactica/Pegasus in the near future.