Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
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.
1 June 2022other● Neutral
Company constitution adopted by special resolution at the 31 May 2022 AGM. The text provided is the contents page and early clauses, including minimum holding and takeover provisions. No changes are explained, so the effect on shareholders is not stated.
31 May 2022investor presentation● Neutral
AGM presentation restates the helium pure-play pitch and the Las Animas prospective resource table: P50 net recoverable helium of 13,422 mmcf (about 13.4 Bcf) across five prospects. Nothing new in the text provided; the slides are truncated.
23 May 2022regulatory community update▲ Good
Approval hearing for the first four Galactica/Pegasus helium wells is set for 19 July 2022, with drilling expected in H2 2022. Two Voyager well applications are lodged, three more to follow. Sproule is updating Galactica/Pegasus resources.
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.
13 May 2022other● Neutral
ASX paused trading in Blue Star pending a further announcement. The reason is not stated in the notice. The next announcement is awaited.
12 May 2022regulatory community update▲ GoodMajor
The regulator approved the final drilling permit for Sammons 315310C, the first Serenity well (Blue Star 50%, operator Vecta). Drilling is expected this quarter. This resolves the permit delay noted in the quarterly report.
11 May 2022regulatory community update▲ Good
The regulator says the Form 2As for State 9, 16, 35 and 36 have passed completeness and move to technical review and hearing. These are the first four of 29 drilling applications proposed for Pegasus/Galactica.
10 May 2022material agreement▲ GoodMajor
SIGIT is engaged to prepare a plan of development, including a processing plant design study at Voyager, due Q3 2022. Sproule is to give Voyager's first independent resource assessment this quarter. Voyager well permit applications are due to be lodged this week.
4 May 2022remuneration report● Neutral
Chairman's letter explains the proposed performance rights plan in five tranches. Hurdles include two certified helium discoveries with a 10c 20-day VWAP, and certified resources (e.g. P50 above 20 Bcf). Others: five prospects drilled, a final investment decision, and helium sales. This follows the earlier withdrawn plan.
4 May 2022agm notice● Neutral
A letter to shareholders dated 29 April 2022 said the AGM would be held in person in Perth on Tuesday 31 May 2022 at 9:00am, as directors decided a physical meeting could go ahead despite COVID-19. The meeting documents were available online.
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.
29 Apr 2022quarterly activities report● Neutral
March quarter: cash A$13.603m. Enterprise 16#1 testing is still waiting on a workover rig after water inflow. Sammons Form 2 was filed 4 March but approval is later than the usual 30 days. Four more Form 2As were lodged; 47 permits in process.
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.
5 Apr 2022drilling progress report▲ Good
Exploratory water wells JXSN#1 and JXSN#2 have started at Galactica/Pegasus, ahead of helium wells planned mid-year. Voyager is fast-tracked after BBB#1's 134 ft, 8.8% helium column. Enterprise 16#1 testing is approved, awaiting a rig; Sammons drilling is expected this quarter.
29 Mar 2022annual report● Neutral
Appendix 4G, signed by Ross Warner, confirms the corporate governance statement is current at 29 March 2022 and points to the company website. Administrative filing with no new substance.
29 Mar 2022annual report● Neutral
Corporate governance statement, approved by the board 29 March 2022, setting out how Blue Star follows the ASX governance recommendations. Routine compliance document accompanying the annual report; no new operational or financial information.
29 Mar 2022annual report● Neutral
Annual report for 2021: landholding of 271,960 gross (193,908 net) acres, prospective helium resources of 13.4 Bcf, and 47 wells in the permitting pipeline. The report restates the year's events, including the Serenity partnership and Spry's appointment as CEO. Financial figures were not in the extract.
28 Mar 2022agm notice● Neutral
Blue Star will hold its AGM on 19 May 2022, with director nominations closing 4 April 2022. Director elections are an item of business. Administrative notice.
1 Mar 2022drilling result● NeutralMajor
Enterprise 16#1 reached 1,250 ft and logs show a 13 ft gas column, with a deeper gas-water contact lifting the Enterprise structure's gas column to about 78 ft (from 29 ft). Water inflow stopped testing, so no helium sample yet; a new test procedure is planned in coming weeks.
28 Feb 2022other● Neutral
ASX paused trading in Blue Star pending a further announcement. The reason is not given in this notice. It followed the Enterprise 16#1 well reaching depth, and the next announcement is awaited.
25 Feb 2022farm in farm out completion▲ GoodMajor
The regulator approved Vecta's Sammons Ranch plan covering four wells. This satisfied the last condition precedent to forming the Serenity area partnership (Blue Star 50%). The final drilling permit for Sammons 315310C is to be submitted shortly, typically approved within 30 days.
22 Feb 2022drilling progress report● Neutral
Enterprise 16#1 has finished the shallow section and set casing. Minor top-side mechanical issues put the well about 48 hours behind schedule, with target depth now expected midweek US time.
17 Feb 2022regulatory community update● Neutral
The regulator's hearing on the four-well Sammons Ranch plan in the Vecta partnership area was deferred about a week to 24 February because an earlier matter ran over. Drilling of the first well is still expected in Q2 2022.
16 Feb 2022drilling spud▲ GoodMajor
Blue Star spudded Enterprise 16#1, its first helium exploration well (100%), targeting the Lyons formation to about 980 ft. Drilling is expected to take about six days, plus about six days for evaluation and testing. It is the first of 10 wells planned for 2022.
14 Feb 2022other● Neutral
Blue Star's shares are approved for trading on the US OTCQB market under ticker BSNLF, giving North American investors US-dollar access. No new shares were issued and the ASX listing is unaffected.
2 Feb 2022admin correction● Neutral
Blue Star changed its principal place of business to 194 Hay Street, Subiaco WA. Administrative only.
31 Jan 2022quarterly activities report● Neutral
December quarter: cash was A$15.63m after the A$15m raising at 5.6c. Enterprise 16#1 permit approved and pad built, with drilling due in February. The Serenity agreement was signed and water wells found gas columns at Voyager and Enterprise.
