- Helium One Global (HLOGF, Financial) reports positive flow test results at Jackson-29, reaching 320 Mcfd with helium concentrations of up to 3.30%.
- Projected stabilized flow rates are expected between 350 Mcfd and 450 Mcfd, with a maximum potential of 550 Mcfd.
- Strong reservoir permeability is indicated by significant pressure build-up post-testing.
Helium One Global Ltd (HLOGF) has announced positive flow test results from the Jackson-29 well at its Galactica-Pegasus helium development project in Colorado. With a 50% working interest in the project, Helium One reports natural flow rates reaching approximately 320 thousand cubic feet per day (Mcfd). The well, drilled to a depth of 1,183 feet, shows promising helium concentrations up to 3.30%, alongside 48.66% CO2 and 48.04% nitrogen.
The projected stabilized flow rates for the well, optimized for production, are expected to be between 350 Mcfd and 450 Mcfd, with a potential peak of 550 Mcfd. Noteworthy is the strong pressure build-up post-testing, signaling high permeability and effective reservoir communication.
The Galactica project, discovered by Blue Star in 2022, is being developed in partnership with Helium One, which will cover the first US $450,000 of the well's expenses. The project's proximity to the third-party owned Red Rocks helium project enhances its commercialization potential.
