Blue Star Helium (AU:BNL) has released an update.
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Blue Star Helium has completed a significant farm-in agreement with Helium One, allowing the latter to earn a 50% stake in the Galactica/Pegasus project in Colorado for $1.5 million and funding the drilling of six wells. This partnership aims to accelerate the development of helium production, with drilling expected to begin in Q4 2024 and initial production anticipated in the first half of 2025. This strategic move positions Blue Star to enhance its production capabilities and capitalize on high-value helium and CO2 co-product streams.
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