You nailed it! lol Accumulation is now the predominant activity...GLTAH Blue Star Helium pass completeness review for Enterprise 16#1 well@gasworld↩️ By Thomas Dee 24 August 2021
Blue Star Helium has received notification that its Form 2A (Oil and Gas Development Plan or OGDP) application for the Enterprise 16#1 well has passed completeness review with the Colorado Oil and Gas Conservation Commission (COGCC).
The process will now move to the public review and hearing stage, the deadline to file a petition is 27th September 2021.
In the absence of any petition(s), this matter will be heard by the COGCC on 27th October 2021. Subject to the application being approved at the hearing, Blue Star must submit the final permit to drill (Form 2) and understands that it is typically received within 30 days of submission.
In the event of an uncontested application, the COGCC may elect to approve the application without a formal hearing. Blue Star expects to receive the final permit to drill its Enterprise 16#1 well during Q4 2021.
Blue Star has achieved the feat of becoming the first helium operator in Colorado to pass completeness on any OGDP application since the January rule changes.
“We now look forward to undertaking the remainder of the approval process and, in the targeted event of an uncontested application, receiving the final drill permit for Enterprise 16#1 during mid-to-late November, if not potentially before. We expect to achieve completeness on future applications in a much shorter time frame because we now have a form of application that meets COGCC’s expectations.”
A look into the near future for BNL...
"Helium is a unique commodity in that a drilled hole can begin production almost immediately. In addition, buyers are willing to purchase the gas at the wellhead. This goes as far as buyers bringing their own equipment to the site, separating the helium on site and buying it on the spot. This unique situation allows us to produce cash flow early on. Therefore, it is our stated goal to start producing helium as soon as possible.
Because of this environment, the Company can use these immediate cash flows to pay for additional wells on production and ultimately grow cash flow even more dynamically.
Once we have several wells on production, we also plan to install our own gas separation facilities. This will allow us to market our helium even more effectively. In the more distant future, we can also envision liquefaction plants that would allow us to bypass the major distributors and market refined gas directly to end users around the world."... https://news.financial/interviews/r...on-nasa-spacex-and-the-path-to-dynamic-growth
BNL Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
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