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February 19, 2025
Helium One Global Provides Update on Galactica-Pegasus Project
LONDON, GB / ACCESS Newswire / February 19, 2025 / Helium One Global (AIM:HE1), 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 (ASX:BNL) (“Blue Star”) announcement issued today regarding the Galactica Project. Summary Jackson-31 well spudded at the Galactica helium project Currently preparing to drill intermediate hole section The Company is pleased to announce the spudding of the Jackson-31 SENW 3054 development well at its Galactica helium project in Las Animas County, Colorado.
This new development is a significant milestone for Helium One Global as the Jackson-31 well represents a crucial step in the exploration and production of helium in Colorado. The Company is fully committed to advancing the Galactica Project and is currently preparing to drill the intermediate hole section. This progress is a testament to the hard work and dedication of our team, and we are excited about the potential of the Galactica-Pegasus project to contribute to the global helium market.
Helium is an essential resource for various industries, including healthcare, technology, and aerospace. The demand for helium has been steadily increasing in recent years, leading to a shortage of this valuable gas. The Galactica Project aims to address this shortage by exploring and developing helium reserves in Colorado, thereby ensuring a stable supply of helium for the future.
We are confident that the successful completion of the Jackson-31 well will pave the way for further exploration and production activities at the Galactica-Pegasus project. Helium One Global remains committed to sustainable and responsible helium production practices, and we are excited about the potential of this project to create value for our shareholders and stakeholders.
How This Update Will Affect You
As a consumer, the advancement of the Galactica helium project could have a direct impact on the availability and pricing of helium-based products in the market. With the development of new helium reserves in Colorado, there is a possibility of increased supply, which could lead to more stable prices for helium-filled products such as balloons, airships, and MRI machines.
How This Update Will Affect the World
The successful exploration and production of helium at the Galactica-Pegasus project could have far-reaching effects on the global helium market. A stable supply of helium from Colorado could help alleviate the current helium shortage and meet the growing demand for this essential gas across various industries. Additionally, sustainable helium production practices at the project could set a precedent for responsible resource development in the future.
Conclusion
In conclusion, the spudding of the Jackson-31 well at the Galactica helium project represents a significant milestone for Helium One Global and the global helium industry. We are excited about the potential of this project to provide a stable supply of helium and contribute to the sustainable development of this essential resource. We look forward to updating our stakeholders on further progress at the Galactica-Pegasus project and remain committed to the responsible exploration and production of helium.
