Blue Star Helium Reports Progress in Well Permit Application for Colorado Project; Shares Down 13%

MT Newswires Live07-03

Blue Star Helium's (ASX:BNL) said the Colorado Energy and Carbon Management Commission will hear its application for the oil and gas development plan for five additional wells at the Galactica helium project in Colorado on Sept. 4, according to a Wednesday filing with the Australian bourse.

The helium explorer will apply for final permits to drill the wells after the hearing, the filing said. This stage is expected to take about two weeks, with the drilling campaign scheduled to start in the fourth quarter.

The company's shares plummeted almost 13% in recent Wednesday trade.

Price (AUD): $0.01, Change: $-0.001, Percent Change: -12.50%

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