LONDON (ShareCast) - (Sharecast News) - Helium One Global announced encouraging flow test results from the Jackson-2 well at the Galactica helium project in Colorado on Thursday, confirming strong gas flow and high reservoir quality.
The AIM-traded firm said the well, drilled to a depth of 1,232 feet in the Upper Lyons Formation, showed increasing natural flow rates since total depth, reaching over 250 thousand cubic feet per day (Mcfd), with stabilised rates projected between 300 and 400 Mcfd and a maximum potential of 500 Mcfd.

Initial gas analysis revealed helium concentrations of up to 1.22% air-corrected, alongside 77.77% carbon dioxide and 20.61% nitrogen.

No water was encountered during drilling, and wireline logging confirmed the Lyons Sandstone as a high-quality, gas-saturated reservoir.

Strong pressure build-up during testing indicated good permeability and reservoir communication.

Jackson-2 is located at the southeastern edge of the Galactica project, which Helium One is developing in joint venture with Blue Star Helium.

At 1225 BST, shares in Helium One Global were down 2.03% at 0.86p.

Reporting by Josh White for Sharecast.com.

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