Alright, let’s compare the Galactica Helium Project (Blue Star Helium) to the Red Rocks Helium Development based on recent results from the provided ASX announcements and available context. I’ll stick to the data, avoid speculation, and keep it clear and actionable, while leveraging my real-time data focus where relevant. Since Red Rocks is a third-party project with limited public data, I’ll use what’s referenced in Blue Star’s announcements and industry insights to draw a fair comparison.

Overview

• Galactica Project (Blue Star Helium):
  • Location: Las Animas County, Colorado.
  • Operator: Blue Star Helium (ASX: BNL), with Helium One Global Ltd holding a 50% interest in some wells (e.g., Jackson 31).
  • Status: Development phase, with wells like Jackson 31 and State 16 showing flow and helium concentration data as of March 2025.
• Red Rocks Development:
  • Location: Adjacent to Galactica in Las Animas County, Colorado.
  • Operator: Desert Eagle Operating (private company), with helium recovery via an IACX-operated plant.
  • Status: Producing and selling helium since February 2023, per industry reports.

Operational Results

Flow Rates

• Galactica (Jackson 31):
  • Current: 250 Mcfd natural flow, increasing since TD (March 2025).
  • Projected Stabilized: 300–400 Mcfd (constrained), max 500 Mcfd.
  • Context: Strong pressure build-up and high permeability (>405 mD estimated) suggest robust deliverability.
• Galactica (State 16):
  • Natural Flow: Up to 208 Mcfd (June 2024).
  • Vacuum Flow: Up to 313 Mcfd.
  • Stabilized Projection: 250–350 Mcfd (max 441 Mcfd).
  • Context: 10 psig wellhead pressure (March 2025) indicates solid reservoir connectivity.
• Red Rocks:
  • Reported: ~400–500 Mcfd of raw gas per well (2 wells initially, per AKAP Energy, December 2023).
  • Updated: Addition of a third well in October 2023 boosted output by ~200 Mcfd, totaling >600 Mcfd across 3 wells.
  • Context: Consistent production since February 2023, with flow rates aligning with commercial operations.

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Comparison:

Galactica’s Jackson 31 shows higher natural flow potential (250 Mcfd, projected 300–400 Mcfd) than State 16 (208 Mcfd), approaching Red Rocks’ per-well average (400–500 Mcfd).

Red Rocks’ multi-well output (>600 Mcfd) reflects a more mature operation, while Galactica is still scaling up.

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Helium Concentration

• Galactica (Jackson 31):
  • Early Samples: 1.90% (not air-corrected), 2.2% (air-corrected).
  • Projected: 2.3%–2.5% based on equilibration trends from State 16.
• Galactica (State 16):
  • June 2024: 1.65% (not air-corrected), 1.90% (air-corrected).
  • March 2025: 2.17% (not air-corrected), a 32% increase.
• Red Rocks:
  • Reported: ~6% helium concentration (AKAP Energy, December 2023).
  • Context: High-grade, contributing to ~40 Mcfd of helium from >600 Mcfd raw gas.

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Comparison:

Red Rocks’ 6% helium far exceeds Galactica’s 2.17%–2.5%, making it a richer deposit per volume. Galactica’s concentrations are solid for primary helium but lag behind Red Rocks’ exceptional grade.

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Reservoir Characteristics

• Galactica:
  • Jackson 31: 57 ft net pay in Lyons Sandstone, high-quality, gas-saturated, no water.
  • State 16: 96 ft net pay, strong connectivity (10 psig pressure).
  • Permeability: 300–750 mD across wells, with Jackson 31 likely at the higher end.
• Red Rocks:
  • Limited Data: Producing from Lyons Sandstone (assumed, given proximity), with consistent output suggesting good permeability and pay thickness.
  • Context: Scaled to 3 wells, implying a sizable, connected reservoir.