A bit slow but on track, hopefully get the approval next...

A bit slow but on track, hopefully get the approval next month

Highlights
 Advanced initial drilling application for Enterprise 16#1 with COGCC; approval expected to be
received during the current quarter.
 Initial applications for four further wells (to test the Galactica and Pegasus prospects)
submitted to the State Land Board in late July and expected to be submitted to COGCC during
August.
 Completed Federal lease issue of 32,858 net acres resulting in Blue Star P50 net unrisked
prospective helium resource increasing by 39% to 13.4 Bcf; estimate based on globally
attractive 8% helium concentration level.
 Strategic acquisition of key lease over mapped crestal location at Galactica prospect.
 Total Blue Star Las Animas landholding stands at 253,646 gross (183,160 net) acres within
the Lyons formation helium play fairway proven by the Model Dome field.
 Pathways to commercialisation advanced by independent helium market report,
commissioning high-level engineering development studies to refine development scenarios
and site assessment of potential gathering systems and helium processing.
 Cash balance at quarter end of A$3.3 million.