LONDON (ShareCast) - (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.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE