The formal issuance of Federal leases acquired by Blue Star Helium (Blue Star) in the Bureau of Land Management (BLM) December 2020 auction sees Blue Star’s total P50 net unrisked prospective helium resource grow from 3.8 Bcf to 13.4 Bcf.

The prospective resource is based on globally attractive 7-9% helium concentration.

The issue of these leases confirms Blue Star’s strategic leasehold position in Las Animas County, Coloroda with 173,000 net acres (237,000 gross acres) across a proven helium play fairway.

This is considered a highly strategic location proximate to key infrastructure and major downstream consumers.

An analysis of the Galactica and Pegasus prospects, also in Las Animas County, showed promise, with the petrophysical interpretation showing a significant gas column trapped at both locations with sufficient porosity and gas saturations to flow gas.

Despite no analysis as to the composition of the gas, both prospects are within the Lyons Helium Play Fairway proven by the Model Dome helium field, and on trend with the Govt Cynthia True #1 well which also tested helium.

Blue Star is also on track to receive the final permit to drill Enterprise 16#1 well during Q3 2021, as well as expecting to submit initial application for a further two wells shortly.