Ann: Galactica - Pegasus OGDP I Update, page-2

Thus another delay. BNL started the approval process sometime ago:

This is the fifth OGDP at Galactica/Pegasus (see BNL ASX releases dated:

1 September 2022,COGCC Approves Four Development Wells;

8 June 2023, Three Well Helium Development OGDPApproved and

11 January 2024, Four Well Locations Approved at Galactica-Pegasus).

So, even as there were 4 development well approvals back as far as 2 years ago, BNL is yet to extract any helium and now there's a heavy weighting toward CO2 production. Would it not have been a better decision to monetize from those approved helium wells by now???

Even a year ago they already had 7 wells approved. Still no helium and a few more weeks to wait to see whether any further approvals are granted - what if the approvals are not granted??

Assuming approvals are granted, there will be 16 well approvals but the market is still waiting for any production from any well. Well well, well done BNL for keeping helium underground - maybe a wait for better pricing?? Been a long wait. Lets go and get that CO2. AIMO