Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA ("the Galactica Project"), provides an update following the Blue Star Helium ("Blue Star") announcement issued regarding an update on the Jackson-29 well.
Summary
· Jackson-29 intermediate hole section successfully drilled to casing point and casing set
· Cementing programme complete and evaluation underway. However, operations currently suspended due to weather conditions
· Following evaluation, Blue Star will run cement bond log (CBL) to confirm bonding and drill out into the target Lyons Formation to drilling total depth ("TD")
Details
The intermediate hole section of the well was drilled to approximately 1,110 feet (338m). Subject to weather conditions, the cementing programme will be evaluated, and any excess cement removed. Blue Star will then run the mandatory CBL to confirm good bonding and then drill out into the target Lyons Formation. The well will be TD'd within the Upper Lyons Sandstone Formation (production hole section). This is anticipated to commence early next week.
At TD, the well will be wireline logged after which a wellhead will be fitted followed by flow and pressure readings at the wellhead.
It is anticipated that, upon successful testing at Jackson-29, the well will be completed, ready to be tied-in to production facilities.