Blue Star Helium provided an end-Q1'22 update. The highlight of the quarter was spudding and drilling of the Enterprise 16#1 well where a new gas-water contact was established, thereby increasing the structural gas column to 78 ft. Another notable event was the approval of the Sammons Ranch OGDP covering Serenity prospect, with Vecta and Prospero. Final approval for drilling is also expected shortly. Cash balance at quarter end stood at A$13.6 million.
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