Blue Star Helium (ASX:BNL) confirmed gas presence through wireline logs at the Jackson 4 development well in its Galactica project in Colorado, as the well was drilled to its final total depth, according to a Monday filing with the Australian bourse.
Early gas samples were taken for laboratory analysis of helium and carbon dioxide concentrations, the filing said.
The well head installation is being completed ahead of surface pressure readings, flow testing, and gas sampling, according to the filing.
Shares rose more than 14% in morning trade Tuesday.
Price (AUD): $0.01, Change: $+0.0010, Percent Change: +14.29%
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