Blue Star Helium (ASX: $BNL) announcement overview

Blue Star Helium Limited (ASX: $BNL) has announced the spudding of the BBB #33 development well at its Voyager helium project in Las Animas County, Colorado. The shallow hole section has been successfully cased and cemented in preparation for drilling into the Lyons helium production reservoir target, as detailed in the ASX announcement on 7 December 2023.

Executive commentary on Voyager project

The spudding of the BBB #33 well marks a significant milestone for Blue Star Helium as we continue to progress our high-grade Voyager helium project. We are pleased with the successful completion of the shallow hole section and look forward to the main drilling rig's arrival to further advance our exploration efforts. The Voyager project holds substantial potential, and we remain committed to maximizing the contingent resource through a 20 well development inventory. Additionally, the selection of a midstream solution for gas processing and ongoing discussions for distributor and end user relationships reflect our strategic approach to the project's development.

Summary of Blue Star Helium (ASX: $BNL) announcement

Blue Star Helium (ASX: $BNL) has initiated the drilling of the BBB #33 development well at its Voyager helium project in Colorado. The successful casing and cementing of the shallow hole section sets the stage for further exploration into the Lyons helium production reservoir target. The Voyager project, located near the historic Model Dome analogue production, has demonstrated a significant independent contingent resource of 643 MMcf helium net to Blue Star. The company anticipates utilizing a 20 well development inventory to maximize the contingent resource and has selected a midstream solution for gas processing. With targeted helium production of 38 MMcf in the first full capacity year, Blue Star Helium is actively engaged in discussions for distributor and end user relationships, positioning itself for future growth and development in the helium market.