Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
29 Apr 2025quarterly activities report▲ Good
March 2025 quarter report: four Galactica wells drilled, all flowed naturally, with Jackson 29 best (350-450 Mcfd projected, up to 3.3% helium). Quarter-end cash was A$2.8m with zero debt. Wiepking-Fullerton option due diligence continues. Mostly repeats known results.
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.
17 Apr 2025agm notice● Neutral
Letter to shareholders advising the annual general meeting will be held in Perth on 23 May 2025 at 10:00am AWST. The notice of meeting is available online. Administrative only.
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.
3 Apr 2025drilling progress report▲ Good
Workover at Bubba State 3, on the Wiepking-Fullerton option assets, is complete. The Keyes formation flowed naturally and is shut in with strong pressure build-up, awaiting testing next week. The rig moves to Big Wampum 4. The option decision remains pending.
1 Apr 2025flow test result▲ Good
Jackson 4 is flowing naturally at about 190 Mcfd, with projected constrained rates of 250-350 Mcfd (max 450). Helium is up to 1.18% with 85.93% CO2, which the company says was expected for this southern well. It resolves the pending lab results and supports CO2 feed.
31 Mar 2025other● Neutral
Corporate governance statement, board-approved 28 March 2025, setting out how the company follows ASX governance recommendations. Administrative disclosure with no new operational or financial information.
31 Mar 2025other● Neutral
Appendix 4G, a checklist pointing to where governance disclosures sit, lodged with the annual report. Administrative only, no new substance.
31 Mar 2025drilling spud● Neutral
Jackson 29, the third well of the Galactica campaign, has spudded and is preparing to drill the intermediate section. Jackson 4 results are still pending. No results yet.
31 Mar 2025annual report● Neutral
Annual report for the year to 31 December 2024. The chairman calls 2024 transformational, citing the State 16 helium discovery, the Serenity CO2 addition and the completed Helium One 50% farm-in (US$1.5m plus six wells funded). Financial statements were not in the excerpt.
24 Mar 2025drilling result▲ GoodMajor
Jackson 4 reached total depth at 1,260 feet with 62 feet of gas-saturated Lyons Sandstone, no water, and natural flow like Jackson 31. Lab helium results are pending. The rig moves to Jackson 29, the third well.
19 Mar 2025well test result▲ GoodMajor
Ma State 16, on the WFE option assets, held a constrained 2,500 Mcfd with only 60 psi drawdown, and a modelled open flow of 33,000 Mcfd. Helium was 1.32-1.36%. Bubba State 3 is next, and the option decision is still pending.
18 Mar 2025drilling progress report● Neutral
Jackson 4's intermediate section was drilled to about 1,123 feet and casing is being cemented. Next is drilling into the Lyons target. No results yet.
14 Mar 2025flow test result▲ GoodMajor
Jackson 31 is flowing naturally at about 250 Mcfd, with projected stabilised rates of 300-400 Mscfd and a 500 Mscfd maximum. Early helium is up to 2.2% air-corrected; Blue Star expects 2.3-2.5% in the reservoir, which is an estimate. Beats State 16's 250-350.
6 Mar 2025well test result▲ GoodMajor
New wellhead samples at State 16 show helium of 2.17%, up from the 1.65% reported in June 2024 (1.90% air-corrected). Wellhead pressure was 10 psig. Blue Star attributes this to reservoir equilibration and says it could apply to other historic wells.
5 Mar 2025drilling spud● Neutral
Jackson 4, the second well of the Galactica campaign, has spudded and is preparing to drill the intermediate section. No results yet. State 16 remains shut in awaiting tie-in.
3 Mar 2025drilling result▲ GoodMajor
Jackson 31 reached total depth at 1,210 feet, with 57 feet of gas-saturated Lyons Sandstone, no water, and natural flow. Helium and CO2 lab results are pending. The rig moves to Jackson 4. First campaign well confirms gas.
26 Feb 2025drilling progress report● Neutral
Jackson 31's intermediate section was drilled to about 1,080 feet and casing is being cemented. Next is drilling into the Lyons target. No results yet.
19 Feb 2025drilling spud▲ GoodMajor
Jackson 31 spudded, the first well of the Galactica development campaign, after weather delays. It targets the Lyons formation, and Helium One funds the first US$450,000. No results yet.
12 Feb 2025drilling progress report● Neutral
The rig has reached Jackson 31 and is rigging up, with drilling to start shortly. This follows the weather delays flagged on 29 January and no results yet.
11 Feb 2025drilling progress report● Neutral
Well testing has begun on the WFE option assets in Lincoln County, starting with Ma State 16 and Bubba State 3. Results will guide whether Blue Star exercises the option. No results yet; historic helium was 1.36-2.02%.
30 Jan 2025quarterly activities report● Neutral
December quarter: Blue Star holds options over Colorado helium and oil and gas assets, and Helium One has paid US$1.5m for 50% of Galactica/Pegasus. Cash was A$2.6m with zero debt. Drilling is expected in Q1 2025, with first production in H1 2025.
29 Jan 2025drilling progress report▼ Bad
Winter weather has pushed rig mobilisation to the week of 10 February, after earlier talk of spudding in late January. Roads are being gravelled for access. Work continues on permitting and engineering for the Pinon Canyon plant, with first gas still targeted for 1H 2025.
