Helium One Global Ltd (AIM: HE1, OTCQB: HLOGF) has announced further progress at the Galactica-Pegasus helium development project in Colorado, where construction of the production facility has reached substantial completion and commissioning is set to begin this week.
The company said the gathering system has been successfully pressure-tested and connected to the plant. First gas remains on schedule for before year-end as the joint venture moves toward initial production.
Highlights
· Gathering system has been successfully pressure tested and is now tied-in to the production facility
· Production facility has reached substantial completion
· Facility commissioning to commence this week
· First gas still scheduled ahead of year-end
Chief executive Lorna Blaisse said the project is now close to entering production alongside partner Blue Star Helium, describing the milestone as a significant achievement for both companies.
She praised the onsite teams for keeping the project on track and said Helium One is looking forward to the transition into its next phase as a producer.
The Galactica-Pegasus project is operated by Blue Star Helium, with Helium One holding a 50% working interest.
For further information please visit the Company’s website: www.helium-one.com
