Blue Star Helium Ltd (ASX:BNL, OTC:BSNLF) is making progress with its helium well drilling program at the Galactica prospect in Las Animas County of Colorado, with the JXSN#4 exploration well spudded and currently at a depth of 582 feet.
JXSN#4 is a step-out well designed to test the structural and stratigraphic prospectivity to the northwest of the gas discovered at the JXSN#1 discovery well.
JXSN#4 is located about 1.7 miles to the northwest of JXSN#1, where along with JXSN#2 and JXSN#3, significant helium-bearing gas columns of up to 230 feet containing up to 3.14% helium were discovered.
The forward plan for the well is to stratigraphically locate the top of the upper Lyons sand in this undrilled part of the structure and evaluate the reservoir.
Blue Star's project in Las Animas County
About BNL's well
Blue Star Helium is an independent helium exploration and production company, with a strategy is to find and develop new supplies of low cost, high grade helium in North America.
JXSN#4 has been permitted by a rancher as a water well. Water wells are drilled by a contractor pursuant to a drilling contract between the contractor and the rancher. Neither BNL nor its subsidiaries are a party to this contract. The well is the property of the rancher and the Blue Star group does not have an economic interest in it.
BNL will agree to fund water wells if the rancher selects a location that may be of interest to the company, BNL has leased the underlying minerals and the rancher agrees to let it obtain any available data from the drilling program. Water wells are drilled for the purpose of producing water for use by the rancher. Water wells may not produce helium and may not be converted into producing helium wells.