Blue Star Managing Director, Joanne Kendrick, said: “The Orders do not impact the Company’s currently planned exploration drilling program which targets private and State lands only. “Blue Star has a “pure play” helium strategy and our assets are not expected to encounter or produce any associated hydrocarbons. Helium is on the “critical minerals” list in the United States and is in high demand in modern high-tech industries that the US government is keen to promote. “The Biden administration has been clear that their aim is to address climate change by limiting hydrocarbon production. Helium is not a hydrocarbon and therefore we do not expect the current policy initiatives to adversely impact the Company.
Instead, we expect to see initiatives to promote the development and production of helium.
The Company advises:
The Orders do not impact the Company’s current exploration drilling program which targets private and State mineral leases.
The drilling program has not been altered in response to the Orders. We have deliberately excluded Federal lands from our exploration drilling schedule because the permitting requirements, even before the Orders, are more onerous. The majority of the Company’s leases are over private and State lands.
BNL Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
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