No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Helium One Global confirmed continued progress at the Jackson-29 well in Colorado on Friday - part of its Galactica-Pegasus helium project, where it holds a 50% working interest.
The AIM-traded firm's update followed a recent announcement from operator Blue Star Helium, which reported that drilling of the intermediate hole section had reached casing point, with casing successfully set.
Cementing of the well was now complete, and evaluation of the programme was underway.
However, operations had been temporarily suspended due to adverse weather conditions.
Once conditions allow, Helium One said Blue Star would proceed with a cement bond log (CBL) to verify the quality of casing bonds before drilling resumed into the target Lyons Formation.
The well was expected to reach total depth within the Upper Lyons Sandstone, after which it would undergo wireline logging.
If testing proved successful, a wellhead would be installed and flow and pressure testing would be conducted.
The Jackson-29 well would then be completed and prepared for tie-in to production facilities.
Helium One said drilling into the production zone was expected to begin early next week, subject to weather.
At 1201 BST, shares in Helium One Global were flat at 0.9p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.