Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Feb 2024drilling progress report● Neutral
The rig started drilling the intermediate section at Bolling #4 SESW, the second Voyager well; target depth is expected in 6-10 days, then logging and testing of at least 5 days. BBB #33 evaluation continues, with no new result.
30 Jan 2024drilling result▼ BadMajor
BBB #33 reached 935 feet, 51 feet into the Lyons, with logs showing a gas-filled reservoir (about 28% porosity). But initial flow and pressure were limited-to-no, which the company calls anomalous; possible wellbore damage is being investigated. This clouds the expected Voyager first well. The rig moved to Bolling #4.
22 Jan 2024drilling progress report● Neutral
BBB #33's intermediate section was drilled to 864 feet and is being cased and cemented. After cement bond logging, the well will drill into the Lyons target. Routine progress with no reservoir results.
15 Jan 2024drilling progress report● Neutral
The main rig began drilling the intermediate section of BBB #33 on 13 January. Reaching target depth in the Lyons reservoir is expected to take 6-10 days, followed by logging and at least 5 days of flow testing. No results yet.
5 Jan 2024drilling progress report● Neutral
The driller, Hydro Resources, has begun arriving on location to drill BBB #33, the Voyager well already spudded on 7 December. This is the main rig arrival awaited since the December delay. No new results.
3 Jan 2024resource reserve update▲ GoodMajor
Sproule raised Voyager's net contingent helium resource (2C) to 857 MMscf from 643 MMscf, a 33% increase from the additional leases bought in April 2023. 1C is 388 and 3C is 1,570 MMscf. This delivers the expected resource update.
2 Jan 2024drilling spud● Neutral
Bolling #4 SESW, the second Voyager development well, was spudded: surface hole drilled to 42 feet and 13 3/8" casing cemented. Like BBB #33, it now awaits the main rig, which the contractor expects to start mobilising later this week.
29 Dec 2023drilling progress report● Neutral
Site works at Bolling #4 SESW, the second Voyager development well location, are complete. A spudder rig is mobilising to set conductor, after which the well awaits the main rig. No new results.
7 Dec 2023drilling spud▲ GoodMajor
BBB #33, the first Voyager development well, was spudded. The surface hole was drilled to 42 feet and 13 3/8" casing cemented. The main rig, delayed from earlier plans, is still to arrive to drill the Lyons reservoir.
5 Dec 2023drilling scheduled▼ BadMajor
The drilling rig for BBB #33 is delayed two weeks, so drilling now completes in January 2024. First helium is pushed from Q4 2023 to Q1 CY2024. Plant installation will be re-timed to match; Form 2s for four more wells are lodged.
13 Nov 2023drilling scheduled● Neutral
The first Voyager production well, BBB #33, is expected to spud in the week of 27 November, about 750 ft from the BBB#1 discovery (8.8% helium). Drilling should take 6-10 days, then testing. This follows the earlier shift of drilling from August to October.
8 Sept 2023drilling scheduled▼ Bad
Voyager development wells will use a larger open-hole bore on engineering advice, so drilling now starts in October rather than August. The IACX plant delivery is still said to be on schedule for Q4 2023.
22 May 2023drilling scheduled● NeutralMajor
Blue Star said a three-well Voyager drilling program would start in August: BBB 33#1, 34#1 and an exploratory well. It submitted a four-well permit application, cut from five. The IACX plant agreements were in agreed form but unsigned, with first helium on track for Q4 2023.
5 Oct 2022drilling result▲ GoodMajor
Logs confirm JXSN#4 as a discovery: 233.5 ft gas column, 133.5 ft net pay. Air-free helium is 6.06% in the best sample and 4.20% in another, above the earlier three wells. Flowed 124.6 mcfd while drilling; feeds the Galactica/Pegasus resource update.
29 Sept 2022drilling result▲ GoodMajor
JXSN#4 reached 1,043 ft; both upper and lower Lyons flowed gas. Preliminary air-free helium is 6.5%, about double the 3.14% best of the three earlier Galactica wells. A second lab check and logs are due; results feed the Galactica/Pegasus resource update.
27 Sept 2022resource reserve update▲ GoodMajor
Maiden Sproule contingent helium resource for Voyager (100% BNL): 2C 643 MMscf net unrisked, 3C 1,228 MMscf. Follows the BBB#1 discovery (8.8% He). Plan of development and FEED due Q4 2022 (slipped from Q3); Stage 1 plant targeted H2 2023.
23 Sept 2022drilling spud● Neutral
JXSN#4, a step-out water well funded by Blue Star (100%) on Galactica, spudded 21 September and is at 582 ft, where casing will be set above the Lyons. It is 1.7 miles NW of JXSN#1 and tests an undrilled part of the structure.
12 Sept 2022drilling progress report▼ Bad
Cement bond log on Sammons 315310C showed insufficient cement from about 730 ft to surface. More cementing was done, and a repeat log will precede drilling into the lower Lyons. Another delay for the Serenity well.
2 Sept 2022drilling result▲ GoodMajor
Sammons 315310C fully penetrated the upper Lyons (1,155-1,238 ft): an 83 ft gas column with no water, flowing up to 500 mcfd. Casing is set at 1,270 ft, and the lower Lyons will be tested next. Helium content is still unknown.
22 Aug 2022drilling progress report● Neutral
Sammons 315310C has reached about 425 ft after the operator resolved several unexpected rig issues. Drilling into the target Lyons formation follows once the shallow section is complete. Slower than the roughly 10 days to total depth guided at spud.
4 Aug 2022drilling spud▲ GoodMajor
Sammons 315310C, the first Serenity well (Blue Star 50%, non-operated), has spudded after repeated slips. About 10 days to reach roughly 1,400 ft, then 7 days of testing. Net dry-hole cost about US$150k. Success would prompt a first Sproule Serenity resource.
29 July 2022drilling progress report● Neutral
Sammons 315310C is now expected to spud on Monday US time, after a small delay to repair a hydraulic pump. Another short slip for the first Serenity well, in which Blue Star holds 50%.
12 July 2022drilling progress report● Neutral
Operator Vecta says Sammons 315310C drilling should start within 7 days, because the crew is finishing another job. This slips the earlier planned spud of the week of 27 June.
16 June 2022drilling scheduled▲ Good
Two more exploratory water wells are planned at Galactica/Pegasus after the Serenity well, using the same rig. Four helium wells are planned for H2 2022, subject to the 19 July hearing, and 2-5 Voyager wells are expected in H2 2022. Resource updates are due Q2 and Q3.
15 June 2022drilling progress report● Neutral
Rig and crew are mobilising to start the Enterprise 16-1 workover, which ends the wait for a rig. The plan is to cement casing across the Lyons, perforate 1,045-1,051 ft and swab for gas samples. It is expected to take about 12 days.
10 June 2022drilling scheduled▲ Good
Rig contracted for the first Serenity well, Sammons 315310C, with spud planned for the week of 27 June 2022. Blue Star holds 50% non-operated, with net dry-hole cost about US$150,000. Three follow-up locations are approved; Serenity is not in the 13.4 Bcf resource.
7 June 2022drilling result▲ GoodMajor
JXSN#3 gas analysis confirms 2.14% helium in a 230 ft column, outside the mapped Galactica P50 contour. This completes the three-well water well program, all with helium. Sproule resource upgrade, with at least contingent resources expected, and SIGIT FEED work continue.
17 May 2022drilling result▲ GoodMajor
Helium discoveries were declared at three Galactica/Pegasus water wells, with helium up to 3.14%, gas columns of 101+ to 230 ft and flows of 202-412 mcfd. JXSN#3 gas analysis was pending, and Sproule was to update resources, with at least contingent resources expected.
2 May 2022drilling progress report● Neutral
Second Galactica/Pegasus water well JXSN#2 is drilled and gas samples are at the lab. JXSN#3 is expected to start Tuesday US time. No results yet.
27 Apr 2022drilling progress report● Neutral
First Galactica/Pegasus water well JXSN#1 is drilled and gas is being analysed in the lab. JXSN#2 is cased above the Lyons and JXSN#3 is next. Wireline logs run in a rancher's well 6.5 miles north.
