Blue Star Helium (ASX:BNL) said that the Bubba State 3 well in Colorado is ready for testing, with the workover to isolate the Keyes formation for flow testing and gas sampling operations completed, according to a Thursday Australian bourse filing.
The company previously announced its option to acquire a portfolio of helium assets in Colorado. It will use the results of the current testing program to assess "commerciality" and guide option exercise and development decisions.
Blue Star Helium's shares jumped past 14% in recent trading on Thursday.
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