Member Info for HereforHemo

Gasworld Logo

AG Image for 316901180

blue-star-helium-appoints-gregg-peters-as-non-executive-director

Blue Star Helium appoints Gregg Peters as Non-executive Director

0

By Molly Burgess

on Sep 11, 2023

Translate

0

Specialty Gas

Blue Star Helium has appointed Gregg Peters, Chief Operating Officer at the Edelgas Group, as a non-executive Director.

I said a while ago there is a a NED at BlueStar who would be perfect for us, Gregg Peters. Peters was a helium director at Linde, where he managed all aspects of commercial helium operations, including price strategy, contracting, client portfolios, and supply system development.

He also spent six years as director of industrial gas for Praxair’s packaged gas business, responsible for the financial performance and development of all gas products, including atmospherics, fuel gases, and CO2, and the expansion of the microbulk initiative.

Cat spot on. Whilst the Form 2 (Application for approval to Drill) approvals are imminent for the Galactica-Pegasus project, there is then a 30 day notice period so drilling will not start until December and run through January now.

But the major risk to any junior exploration company is not generating revenue, so with approximately $15m minimum expected from the current drilling, it's a major tick in the box.

However I think you're right, in advance of that we'll have major news on Rukwa and all will have a very merry Christmas imo.

A being well the first 7 wells will be in production early Q2 and fund an additional 9, so we should have 16 wells generating revenue by the end of Q2.

Not only helium that already has a production plant ready to use but CO2 for the food and beverage industry, to which BlueStar are installing a production plant for their Serenity project

and all will use the same facilities. https://stockhead.com.au/energy/blue-star-banks-us1-5m-plus-us2-7m-free-carry-on-galactica-pegasus-helium-project-farm-out/

Three things I pride myself on are honesty, keeping my emotions in check and accurately qualifying a situation.

Here at HE1, whilst those in profit are making hay through trading, others are taking advantage of a low entry point and those who have bet on the SP falling have done very well too.

Meanwhile, many others like me are seriously underwater and what's particularly galling is I believe it's self inflicted from our own management, based on nothing more than wording.

As an example if Lorna had not described the BlueStar farm in as providing more value in the medium term than the 10% dilution it caused and had stated HE1 would get approximately three times their investment back, and would be generating revenues of $250k per month for the next 5 years, and therefore be generating revenue 6-9 months earlier than previous projections I think it would have been better relieved by the market.

For Rukwa we had statements like 'The EWT was all we had hoped for', 'The EWT was extremely successful and positive' and this discovery 'is of global significance'. But if she had added 'We believe the Rukwa Helium Project is billions of cubic feet in scale and therefore worth billions of dollars' again we would have had a very different reaction from the market.

So what should holders underwater do, take your losses on the chin and move on, or ride the situation out hoping for better times where we can put the current SP behind us as a distant memory?

Nobody is in a position to give anyone advice on whether to sell or to hold but I know what I'm doing, and always have. That's because (whether people believe me or not, I really don't care) I know what's going on. I know the Feasibility Study was submitted with enough to get the Mining Licence approved, but I also know it was deemed incomplete to release. I know when it will be complete and released and when it is just how big this helium find will be (not exactly but it comfortably exceeds my expectations), and I know a revised broker report will be issued to take into account the revised data.

So personally I'm holding and waiting. Although frustrated I remain bullish and confident. People can believe me and take the same stance or can believe those short on the stock and steer well clear of it. It's personal choice.

For me, I won't be elaborating on the above. In fact I'm going to be quiet until the positive news I've outlined starts being released.

Whilst I wish all genuine holders good fortune and luck, do remember this is an anonymous bulletin board and base your decisions purely on your own research.

To better times ahead.

Pete you may well be right with your assessment but equally it's very common for a JV or offtake partner to issue working capital of several million dollars as part of the package. Coupled with revenue from the states, development wells being far cheaper to drill, especially with your own rig, personally I find it unlikely they'll be any dilutive raise.

But whether you take my view, or you want to spread uncertainty and are not an actual shareholder, it's all irrelevant as if anyone thinks what they post on here makes a blind bit of difference they are sadly mistaken.

What will be will be.

Dear or dear, more likely a banned poster with a 2 post history is the one trying to bring the SP down.

Galactica-Pegasus fully funded for all drilling, tie backs and production costs.

Nothing to do at Rukwa until Mining Licence is granted and highly likely nothing to commence there until after the rainy season.

And guess what, Helium One will be revenue generating by then, plus have a debt package, Offtake partner and/or JV partner, with a multi million dollar revenue stream.

So shame on who? The imbecilic posters that's who.

Interesting comments from Gregg Peters upon joining BlueStar as a non-executive director.

Peters comes with more than 30 years of commercial leadership experience in the industrial gas sector.

Blue Star managing director and CEO Trent Spry said: "We are delighted to welcome Gregg to the Blue Star team after having formed a strong professional relationship with him over some time now.

“It is pleasing to have attracted someone of the professional calibre and helium experience as Gregg as we move closer to advance commercialisation pathways for our Galactica/Pegasus discoveries.

“Both Gregg and I are equally excited about the potential of our existing exploration portfolio and additional future developments of new potential resource discoveries from our existing exploration portfolio and beyond.

“We look forward to his contributions to the success of Blue Star over the coming years."

Peters brings a proven track record of commercial leadership in the industrial gas sector with more than 30 years of direct market experience.

Most recently he was Helium director, North America for Linde PLC.

Peters managed all aspects of commercial helium operations from mid-2010, including price strategy, contracting, client portfolios, supply system development, as well as marketing and technical support to operating business units, distributors and end-users across all modes of supply, liquid and gaseous.

Peters said: “Having had the opportunity to review most of the viable exploration projects in North America and the privilege of close review for many of the best of those, Blue Star holds a particularly interesting portfolio.

“Their operations in Colorado are in areas known to have notably high helium compositions. Initial successful exploration results confirm this at a number of prospects.

I can see Helium One acquiring more than just the farm in on the Galactica-Pegasus Project.

Remember 'The Company will be entitled to aquire all other BlueStar Helium acreage on the same terms as those offered to BlueStar.

I've found the terms, and with the additional working capital raised, it would seem a no brainer to snap them up.

Oil and gas explorer Big Star Energy (now BlueStar Helium) has shelled out $107,000 at a state land auction to acquire 63 new helium leases in Colorado, increasing its acreage by 1,400%.

The leases are spread over 88.31 square kilometres and have transformed the company into the region’s dominant player.

They are for an initial five-year term with an optional 12 month extension, and require an annual rental payment of $3.69 per acre payable in advance.

The acquisition price comprises the first year rental costs of $80,505 and lease bonuses, application and other fees of $28,60

In the event that Big Star successfully produces helium or other products from the lease area, the company will be required to pay the State of Colorado a 20% royalty and the lease term will be extended indefinitely until production ceases.

Cat I'm already in the loop and have done the same on the ESIA approval. You don't ask you don't get.

The minister so highlighed helium in Rukwa which could position Tanzania as the worlds 3rd largest producer. https://dailynews.co.tz/how-tz-unlocks-mining-sectors-huge-potential/

Cat well played, impressive.

67% down that should read.

HappyDazes the master trader who's on a 6 month travel jaunt funded by a single trade on HE1 lol.

All whilst pumping East Star Resources, the ultimate in lifestyle companies who are 67% over the last 6 months.

Is it just a blip on his impeccable (allegedly) trading record or is he really posting from his bedsit in Bradford?

I'd go for the latter myself.

Pete apologies, I got confused with the numbering from the development wells BlueStar had already drilled, so you are correct we have 6 development wells to drill. If I have it correct, BlueStar have drilled 5 development wells already, with our 6 to come, plus another 9 to follow, so to date it looks like 20 could go into production, all being well.

With maybe 30 in Rukwa to add in 2025,

Helium One could indeed become a major player.

On timescales I notice the State 16 well was only flowed for 12 hours but confess I don't know how long a development well takes to drill, but assumed it would only take around 3 days? If anyone has further info on this it would be appreciated.

https://www.listcorp.com/asx/bnl/blue-star-helium-limited/news/state-16-well-status-and-development-update-3050049.html

There's around 40 trading days left in the year and in that time we can expect:

*BlueStar farm in approval

*Galactica production well drill 1

*Galactica production well drill 2

*Galactica production well drill 3

*Galactica production well drill 4

*Galactica production well drill 5

*Pegasus production well drill 1

And one would assume we'll also get results of most or all this year.

We should also get:

*The Rukwa Feasibility Study.

*The Rukwa ESIA approval.

*The Rukwa Mining Licence approval.

*A joint venture set up for Rukwa with the Tanzanian Government.

We may get, if we're lucky:

*An offtake agreement with a major for Rukwa.

*A joint venture with a major for Rukwa.

*A debt package with a leading financial organisation.

Although the above could well come in Q1.

On top of this there are an additional 9 production wells to be drilled for the Galactica-Pegasus Project. There is the details of the production plant provider and the drilling schedule for the 20-30 wells and the timeline to production towards the end of 2025.

There may of course be additional exploration or appraisal wells in either the states or Tanzania, or details of whether Helium One take the option to aquire any additional leases from BlueStar.

So, lots of news in the coming weeks and months, most of it hopefully adding value to the SP.

Personally (and I'm sure for most) it's been an exceptionally tough year. BUT it's not over yet. Whilst i'm frustrated with my entry price I'm still convinced this is an excellent place to be. GLA.

Helium One and BlueStar are both debt free and around $11m between them to progress the Galactica-Pegasus Project

· The Galactica project contains confirmed discovery wells in the region flowing up to 6% helium (average of 3%) as free gas and are well positioned close to existing helium infrastructure

· The Company's internal gross resource estimates, assuming a P50 Helium concentration of 3%, are 675 million cubic feet

· Full development programme for the Galactica Project will require the drilling and tie-back of 15 wells, as well as commissioning of the relevant He and CO2 processing facilities

· Initial six development well programme planned for Q4 2024 which are expected to be on stream and producing in H1 2025.

Then we have the Southern Rukwa Helium Project with Mining Licence, JV and or offtake partner/s, stated to be 'of global significance'.

For me, this isn't a traditional AIM bet, it's a strategic investment.

Looking good indeed. Deal confirmation tomorrow and rapid drilling schedule for this year to follow.

https://stockhead.com.au/energy/blue-star-helium-secures-approval-for-another-five-development-well-locations/

Nice subtle deramp but the State 16 well has already shown its commercially. 6 more development wells to drill ghis quarter, which are fully funded and which in turn will fund a further 9, all to be in production and generating revenue from Q2 next year

So don't you worry, im sure they'll be fine. https://ukinvestormagazine.co.uk/helium-one-shares-tick-higher-on-galactica-progress/

Equilibrium you could have finished your post after the first two sentences.

But, as I've already stated, first news should be on Thursday confirming the BlueStar farm in, subject to the drilling approvals coming in the same day.

broomtree if you continue to cross ramp youur hex investment on this board i'll start ramping he1 on your board.

let's be clear, your investment hasn't even been proven. you have helium shows at 130 x background levels compared to rukwa at 14,000 x background levels. if you're going to compare hex to anything, compare them to bluestar as if they make a discovery it's going to be around a third of the galactica-pegasus project.

therefore if you compare mcaps, either hex are substantially overvalued or he1 are substantially undervalued.

so please **** off back to your own board and leave this board to discuss our company.