Helium One reports progress at Galactica-Pegasus

(Sharecast News) - Helium One Global updated the market on its Galactica-Pegasus helium development project in Colorado's Las Animas County on Monday, where it holds a 50% working interest. The AIM-traded firm said preparatory work had started on the Jackson #31 well pad, marking the first step in a multi-well drilling campaign.

Once civil works were completed at Jackson #31, similar preparations would start at Jackson #04.

Drilling operations at Jackson #31 were expected to begin in mid-January 2025, subject to weather conditions, followed by Jackson #04.

The campaign would also include three additional approved wells, with further details on sequencing to be announced after the drilling of Jackson #04.

The Galactica Project is a joint venture with Blue Star Helium.

At the close on Tuesday, shares in Helium One Global were up 7.18% at 0.97p.

Reporting by Josh White for Sharecast.com.