Blue Star Helium Confirms Gas at Colorado Well; Shares Up 8%

MT Newswires Live

04/10

Blue Star Helium (ASX:BNL) completed drilling of the Jackson 29 development well to its final total depth at the Galactica project in Colorado, with gas confirmed by wireline logs, according to a Thursday filing with the Australian bourse.

The well was drilled into the Lyons Formation at 1,122 feet and completed 61 feet into the upper sand at 1,183 feet, exhibiting "strong natural flow" during drilling, the filing said.

Early gas samples are currently being delivered for laboratory analysis of helium and carbon dioxide concentrations, per the filing.

Shares were up 8% in afternoon trade Thursday.

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