Helium Development Well Permitting Update Voyager & Galactica/Pegasus

Blue Star Helium Limited (ASX:BNL, OTCQB:BSNLF) (Blue Star or the Company) provides an update on helium development well permitting at its Voyager and Galactica/Pegasus helium projects in Las Animas County, Colorado.

Highlights

• COGCC passes new two development well “BBB 2860” OGDP as complete and moves it to the final review and hearing phase.
  
• COGCC sets hearing date of 28 December for new three development well “Galactica- Pegasus OGDP II”.

Voyager

The Colorado Oil and Gas Conservation Commission (COGCC) has passed the “BBB 2860” Oil and Gas Development Plan (OGDP) as complete and moved it to the final review and hearing phase.

This OGDP relates to two wells: BBB 33 and BBB 34 that offset the BBB#1 discovery well on Voyager where a 134ft gas column was encountered with gas flowing to surface containing 8.8% helium which resulted in the recently announced independently certified Contingent Resource of 643 MMscf (2C net, unrisked, 100% BNL) with a high side (3C) net unrisked estimate of 1,228 MMscf (see ASX announcement of 27 September 2022). The Voyager low-cost phased development is planned to deliver the Company’s first cashflow.

Galactica/Pegasus

The COGCC has advised that it will hear the “Galactica-Pegasus OGDP II” application on 28 December 2022. This oil and gas development plan (OGDP) relates to three wells: Jackson 1, Jackson 2 and Jackson 3. (See ASX announcement of 3 October 2022)

These wells are to be drilled as offset development wells to the JXSN#1 and JXSN#2 helium discoveries made by the earlier this year (see ASX announcement of 17 May and 7 June 2022). Galactica/Pegasus is targeted as the Company’s second helium development after Voyager.

Helium Well Permitting

The table below outlines the current status of Blue Star’s helium development well permitting activities in Las Animas County, Colorado.

Click here for the full ASX Release

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