Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Blue Star Helium’s (BNL) exploration partner Vecta Oil and Gas secures a rig to begin drilling the maiden Serenity helium well in Las Animas County, Colorado
  • The Sammons 315310C well is the first of four to test the Serenity prospect and will target both the upper and lower Lyons formation up-dip from an historic exploration well
  • Last month, Vecta received the final approval to begin drilling and has now contracted a rig to spud the well in the week starting June 27
  • Follow up appraisal and development locations have been approved and the final permits to drill will be submitted upon success of the maiden well
  • Blue Star shares are up 3.7 per cent, trading at 2.8 cents at 12:05 pm AEST

Blue Star Helium’s (BNL) exploration partner Vecta Oil and Gas has secured a rig to begin drilling the maiden Serenity helium well in Las Animas County, Colorado.

The Sammons 315310C well is the first of four approved in the Area of Mutual Interest between BNL, which holds a 50 per cent non-operated interest, Prospero Oil and Gas, which holds a non-operated interest of 25 per cent, and operator Vecta Oil and Gas which has a 25 per cent interest.

Last month, Vecta received the final approval to begin drilling and has now contracted a rig to spud the well in the week starting June 27.

According to Blue Star, the well authorisation for expenditure, prognosis and plan has also been received.

The well is testing the Serenity prospect, which is situated southeast of Blue Star’s Galactica and Pegasus prospects, where the company has revealed three discoveries.

The maiden well will target both the upper and lower Lyons formation, up-dip from an historic well.

The top Lyons formation is expected to be similar to recent wells at Galactica and Pegasus.

Further details on the expected timing of drilling will be released once the well has been spudded.

In February, three follow up appraisal and development locations were approved and the final permits to drill will be submitted upon success at the initial Sammons well.

Blue Star shares were up 3.7 per cent, trading at 2.8 cents at 12:05 pm AEST.

BNL by the numbers
More From The Market Herald
Cavalier Resources (ASX:CVR) - Executive Technical Director, Daniel Tuffin

" Cavalier Resources (ASX:CVR) begins PFS at Crawford

Cavalier Resources (ASX:CVR) has begun a pre-feasibility study (PFS) at the Crawford Gold Project within the…
Ten Sixty Four (ASX:X64) - Outgoing Managing Director, Paul Ryan Welker

" Ten Sixty Four (ASX:X64) terminates services agreement of former MD, Paul Ryan Welker

Ten Sixty Four (ASX:X64) has terminated the executive services agreement of former Managing Director Paul Ryan…

" M3 Mining (ASX:M3M) identifies drill targets at Edjudina

M3 Mining (ASX:M3M) has identified prospective gold-in-soil anomalies at the Edjudina gold project 150 kilometres northeast…

" Good Drinks Australia (ASX:GDA) commences the sale of Molson Coors and Magners

Good Drinks Australia (ASX:GDA) begins to sell the Miller Chill, Miller Genuine Draught, Coors, Molson Canadian…