Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Blue Star Helium adds large acreage across US Galactica and Pegasus prospects as it awaits approval for maiden drilling

% of readers think this story is Fact. Add your two cents.

Blue Star Helium Ltd (ASX:BNL) (OTCMKTS:AZZEF) has acquired large acreage across two of its hot prospects – Galactica and Pegasus – at a US Federal Government auction last Friday. 

In addition, it is now waiting for the final regulatory approval before kicking off drilling a minimum of three wells and possibly up to five wells, in early 2021. 

The company is also awaiting the results of an independent prospective resource review by Sproule of the Galactica and Pegasus prospects, which they have previously said rank on an equal footing with its first nominated target, Enterprise. 

Incredibly active 2021

Blue Star managing director Joanne Kendrick said: “Blue Star is excited to acquire these additional leases including, in particular, those over our Galactica and Pegasus prospects where we expect to publish an independent resource report in January.

“We’re looking forward to an incredibly active 2021 with our recent A$6 million placement ensuring we are well-funded to deliver our maiden drilling campaign, as well as additional strategic leasing acquisitions.”

Lease acquisition

Blue Star acquired an additional 32,858 acres within the highly prospective Las Animas County region of Colorado taking its total leasehold position in the region to around 215,000 gross (160,000 net) acres.

The new leases were acquired for US$470,253.50 at the Federal Bureau of Land Management auction on December 17, 2020.

Maiden drilling

In mid-November, the Blue Star announced the expansion of its maiden drilling campaign to a minimum of three wells and up to five wells to test several prospects in its portfolio, in addition to Enterprise.

The US team has completed a further site visit to evaluate a potential follow-up location at Enterprise, as well as assess potential well locations at the Galactica, Pegasus, Voyager, and Galileo prospects, with permit applications to follow.

The maiden drilling campaign will begin after receipt of permit approvals, which are expected early in the new year.

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.