Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Dec 2025capital raising announcement● NeutralMajor
Raising up to A$8.2m at A$0.005: a A$2.72m placement of 544m shares with free 0.6c options (1 per 2 shares, expiring 30 June 2026), plus a 10-for-33 rights issue for A$5.46m. Follows cash of A$1.905m at 30 September.
15 Dec 2025production update▲ Good
Gathering system has passed pressure testing and is tied in to the facility, which is substantially mechanically complete. Commissioning starts this week, and first production is still projected for December 2025.
26 Nov 2025production update▲ Good
Gathering system is substantially complete, plant site construction is finished and large equipment is arriving for assembly. First production still projected for December 2025, with commissioning expected in coming weeks.
10 Nov 2025production update▲ Good
The first section of the Galactica gathering system has been installed, and first production is still projected for December 2025. A construction progress step, not a change in plan.
31 Oct 2025production update▲ Good
Contractors broke ground on the Galactica production facility pad and gathering system, with first helium still on track for December. Construction starts at Jackson 31 and extends to the other wells and the plant.
21 Oct 2025investor presentation● Neutral
October 2025 corporate presentation repeating first helium from Galactica in December 2025. Shows 3,603m shares on issue, 932m options and a 0.7c share price. Nothing new beyond known facts.
13 Oct 2025contract award▲ GoodMajor
Signed a two-year equipment lease with Kinder Morgan for the amine unit that separates CO2 at Galactica, sized for up to 4.2 MMscfd of raw gas and up to 37,000 tons a year of CO2. First helium still due December; CO2 sales H1 2026.
25 Sept 2025other● Neutral
Administrative notice that 235,000,000 shares were issued on 25 September 2025. This is Tranche 2 of the July placement, so the shareholder meeting approval appears to have been obtained (inference); no new information.
18 Sept 2025asset acquisition disposition● NeutralMajor
Blue Star elected not to exercise its option to buy the Wiepking-Fullerton helium assets in Lincoln and Cheyenne Counties after evaluation. It says capital is better spent bringing Galactica to market and developing Las Animas. This ends the growth thread opened in December 2024.
18 Sept 2025production update▲ Good
Galactica facility development is described as well advanced, with first helium on schedule for December 2025 and first CO2 in H1 2026. Permits are in place and equipment packages are selected. Supports the H2 2025 target set in June.
12 Sept 2025half year report● Neutral
Half-year to 30 June 2025: loss of A$3.33m, down from A$10.35m a year earlier. Share price was A$0.005 at period end. Report recaps the Galactica six-well program and seven wells ready for tie-in; mostly known results.
7 Aug 2025other● Neutral
Administrative notice that 673,000,000 shares were issued on 7 August 2025. This is Tranche 1 of the July placement; no new information.
31 July 2025capital raising announcement● NeutralMajor
Raising A$4.5m through a placement of 908m shares at A$0.005, with one free option per two shares (1c, two years) subject to approval. Funds go to plant civils, gathering system and production facilities at Galactica. Tranche 2 needs a September general meeting.
What it means for a shareholder
908m new shares at A$0.005 to raise about A$4.5m. That's 25% dilution: every existing holder's slice gets 25% smaller. If you held A$1,000 of shares (200,000 at the issue price), your slice goes from 0.00742% to 0.00555% of the company. To keep it you'd need 67,387 more shares - about A$337 at the issue price.
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31 July 2025well test result▲ Good
Aloha Mula 12, third well on the Wiepking-Fullerton option, flowed at a constrained 3,000 Mcfd with negligible drawdown, modelled AOF 9,000 Mcfd and 1.41% helium. The CEO calls it the strongest well of the campaign; Big Wampum 4 is under test and no exercise decision yet.
8 July 2025drilling progress report● Neutral
The workover rig has moved to Aloha Mula 12, the third well in the Wiepking-Fullerton option test program, ahead of Big Wampum 4 as the fourth. Results from all four tests will inform the option decision. No new results.
10 June 2025production update● NeutralMajor
The six-well 2025 Galactica campaign is complete, and the company now targets first commercial helium production from the Pinon Canyon Plant in H2 2025. This moves the earlier H1 2025 target back. Plant design, civil works and well tie-ins remain to be done.
10 June 2025flow test result▲ Good
State 9 is flowing naturally at over 360 Mcfd, with projected constrained rates of 400-500 Mcfd (max 600). Helium is up to 1.52% with 80.48% CO2. The company calls it the strongest well on the eastern flank and the end of the drilling campaign.
3 June 2025drilling result▲ Good
State 9, the sixth and final campaign well, reached total depth at 1,225 feet with 60 feet of gas-saturated Lyons Sandstone, no water and robust natural flow. The rig is released. Lab results are pending.
21 May 2025drilling spud● Neutral
State 9, the sixth and final well of the Galactica campaign under the Helium One farm-in, has spudded and the conductor is set. Helium One funds the first US$450,000. No results yet.
15 May 2025flow test result▲ Good
Jackson 2 is flowing naturally at over 250 Mcfd, with projected constrained rates of 300-400 Mcfd (max 500). Helium is up to 1.22% with 77.77% CO2. State 9 is to be drilled next as the sixth well.
6 May 2025drilling result▲ Good
Jackson 2, the fifth campaign well, reached total depth at 1,232 feet with 73 feet of gas-saturated Lyons Sandstone, no water and strong natural flow. Lab results pending. The sixth Helium One-funded well will be State 9.
30 Apr 2025well test result▲ Good
Bubba State 3 on the Wiepking-Fullerton option assets flowed at a sustained 740 Mcfd, with a forecast 700 Mcfd after 30 days and helium of 2.01%. Results feed the pending decision on exercising the option; no price or decision yet.
30 Apr 2025flow test result● Neutral
Jackson 27 is flowing naturally at about 320 Mcfd, with projected constrained rates of 350-450 Mcfd (max 550). Helium is only up to 0.41% with 98.31% CO2, so it is a strong CO2 producer on the eastern flank but low in helium.
30 Apr 2025drilling spud● Neutral
Jackson 2, the fifth well of the Galactica campaign, has spudded and the conductor is set. Helium One funds the first US$450,000. No results yet.
23 Apr 2025drilling result▲ Good
Jackson 27, the fourth campaign well, reached total depth at 1,183 feet with 60 feet of gas-saturated Lyons Sandstone, no water and strong natural flow. Lab helium and CO2 results are pending. The rig moves to Jackson 02.
22 Apr 2025flow test result▲ GoodMajor
Jackson 29 is flowing naturally at over 320 Mcfd, with projected constrained rates of 350-450 Mcfd (max 550). Helium is up to 3.30% air-corrected with 48.66% CO2, the highest helium and strongest flow of the campaign so far.
22 Apr 2025regulatory community update▲ GoodMajor
Las Animas County approved a Major Facilities Permit (15 April 2025) for the Pinon Canyon helium and CO2 processing plant. The company calls the plant a critical-path item. This clears a key permitting step on the way to first production; construction funding and timing were not stated.
16 Apr 2025drilling spud● Neutral
Jackson 27, the fourth well of the Galactica campaign, has spudded and the conductor is set. Helium One funds the first US$450,000. No results yet.
10 Apr 2025drilling result▲ Good
Jackson 29, the third Galactica campaign well, reached total depth at 1,183 feet with 61 feet of gas-saturated Lyons Sandstone, no water and natural flow. Lab helium and CO2 results are pending. The rig moves to Jackson 27.
4 Apr 2025drilling progress report● Neutral
Jackson 29's intermediate section was drilled to about 1,110 feet and casing is being cemented. Next is drilling into the Lyons target after a bond log. No results yet.
