Production Facility Update at Galactica Project
Helium One Global Ltd has announced significant progress at its Galactica Project in Colorado, with the gathering system successfully pressure tested and tied into the production facility, which has reached substantial completion. Facility commissioning is set to begin this week, and the company remains on schedule to achieve first gas production before the end of the year, marking a crucial step towards becoming a producer.
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- Production facility has reached substantial completion
- Facility commissioning to commence this week
- First gas still scheduled ahead of year-end
Lorna Blaisse, Chief Executive Officer, commented:
"I am pleased to announce that we are approaching the commencement of production at the Galactica project in partnership with Blue Star. This achievement marks a significant milestone for both the Joint Venture and our respective organisations. I would like to commend the commitment of the onsite teams, whose efforts have ensured we remain on track to deliver first gas before year-end. We very much look forward to entering the next phase as a producer."
Annual General Meeting
At the Company's Annual General Meeting being held later on this morning Lorna Blaisse, the Company's Chief Executive Officer will provide a general update to Shareholders and answer relevant questions. The presentation discussed will be made available on the Company's website shortly after the event for those who cannot attend.
This programme has seen a systematic approach to developing the extensive Lyons Formation reservoir. The programme has delivered encouraging results, in line with expectations, consistently encountering good helium (up to 3.3% He) and CO2 concentrations in the target formation and demonstrating promising flow potential. The next steps will see the Galactica wells tied into initial production in Q4 2025.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.