Helium One reports progress at Galactica-Pegasus
Updated : 16:52
Helium One Global updated the market on its Galactica-Pegasus helium development project in Colorado’s Las Animas County on Monday, where it holds a 50% working interest.
The AIM-traded firm said preparatory work had started on the Jackson #31 well pad, marking the first step in a multi-well drilling campaign.
Once civil works were completed at Jackson #31, similar preparations would start at Jackson #04.
Drilling operations at Jackson #31 were expected to begin in mid-January 2025, subject to weather conditions, followed by Jackson #04.
The campaign would also include three additional approved wells, with further details on sequencing to be announced after the drilling of Jackson #04.
The Galactica Project is a joint venture with Blue Star Helium.
At the close on Tuesday, shares in Helium One Global were up 7.18% at 0.97p.
Reporting by Josh White for Sharecast.com.