The Company recently announced prospective resources over Galactica and Pegasus (see announcement 8 February 2021). The prospective resources were supported by historic well data showing interpreted gas columns associated with each prospect. No flow test or gas samples were taken from these historic wells and therefore helium content is undetermined. A third historical well, the Government Cynthia True #1 located on the same greater structural high as Galactica and Pegasus, was tested at a helium concentration of 8.8%.The Company is preparing permit applications over these prospects. The Company will provide further updates to the market in due course.
Tell me if I'm wrong but our likely first 2 drilling prospects Galactica & Pegasus are already on prove, valid traps?. And Trent being a very well regarded oil & gas reservoir geologist will no doubt use extensive historical well data, surface expressions to then map others?.
The drill bit is the ultimate truth serum but F me as far as exploration goes to drill into already discovered gas traps it doesn't get much better!
BNL Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
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