- Oil and gas explorer and producer Big Star Energy (BNL) has secured 30 new leases in North America — providing an almost 20 per cent increase in its holdings
- The company now has multiple high-value helium projects in North America — with a total lease position of over 110,000 gross acre
- A total of 15 soil gas sample locations have returned helium readings significantly above atmospheric concentrations, with further testing to come on the new leases
- There’s no way of producing helium artificially, and the gas is needed in a range of high-tech applications such as the manufacture of MRIs and semiconductors
- Big Star’s shares are down 7.14 per cent to 0.7 cents apiece
Oil and gas exploration and production company Big Star Energy (BNL) has announced the acquisition of an additional 17,612 gross (12,912 net) acres in Colorado, USA. Big Star now holds multiple high-value helium projects in North America — with a total lease position of 110,055 gross acres. The additional acreage was secured by 22 new leases won at the February State land auction and 8 new leases from private mineral owners.
Big Star Managing Director, Joanne Kendrick, commented “I’m delighted by our success at the recent state auction where we saw an increase in competition for leases, supporting our opinion of the prospectivity in the area and specifically at the Enterprise location. “Our leasing program will continue this quarter with a focus on increasing net acreage over key prospects. At the same time, we are working on well location selection, drilling planning and prospective resource estimation.” The Company has leased acreage covering a total of 15 soil gas sample locations which returned helium readings significantly above atmospheric concentrations. Helium is a unique industrial gas that exhibits characteristics both of a bulk, commodity gas and a high-value specialty gas. It’s considered a “high tech” strategic element. Due to its unique chemical and physical qualities, helium is a vital element in the manufacture of MRIs and semiconductors among other high-tech applications. There is no way of manufacturing helium artificially and most of the world’s reserves have been derived as a byproduct of the extraction of natural hydrocarbon gas.