The Market Herald - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Initial lease of 1800 gross acres acquired at Big Star’s first helium prospect ‘Enterprise’ in the U.S
  • Enterprise is located in a known helium-producing area and is approximately 24 kilometres of a field that produced helium in concentrations between five and 10 per cent
  • Big Star has identified 30 helium prospects and leads in the area

Big Star Energy has secured its first oil and gas lease over the ‘Enterprise’ helium prospect in the U.S.

This acquisition is in line with Big Star’s ongoing prospect generation program which is targeting helium-rich areas in the Mountain States region of North America. These areas contain helium which has previously produced to surface in high concentrations of between two and 10 per cent of the raw gas stream.

The acquisition comprises an initial lease of 1800 gross acres for five years with an option to acquire up to 5000 gross acres.

“Onshore USA is a great location for helium exploration with a long history of high concentration helium production going back to the 1920s and a well developed supply chain and market,” Managing Director Joanne Kendrick said.

The company has high hopes for another helium discovery in this region.

“A helium discovery in the Mountain States region could potentially be brought into production within 6 months using modular, off-the-shelf technology,” Joanne said.

Big Star has conducted a regional analysis of this area and identified 30 unleased prospects and leads, including Enterprise.

“We intend to continue adding to the leasing position over Enterprise and several other prospects over the next several months,” Joanne stated.

A technical program is underway at Enterprise and surrounding prospects. The company expects to have several prospects ready for drilling permitting in early 2020.

BNL by the numbers
More From The Market Herald

Microcap Byron Energy clocks 2Kbbl/d from Gulf of Mexico offshore platform

Byron Energy's (BYE) share price has seen decent gains on Tuesday with news production from Gulf…

Strike Energy mints WA gas sale agreements with South32, AGL

Strike Energy (ASX:STX) will become a domestic WA gas supplier to South32 and AGL via new…

Elixir Energy reports progress in Daydream-2 well drilling at Grandis gas project, QLD

Elixir Energy (ASX:EXR) has released an update on the progress of drilling at the Daydream-2 appraisal…
Strike Energy (ASX:STX) - Chair, John Poyton [left] and CEO, Stuart Nicholls [right]

Strike Energy receives primary environmental approval for South Erregulla

Strike Energy's (ASX:STX) South Erregulla gas field phase one 40 TJ/d development has received its primary…