MSMN Las Animas Project Context27 Oct 2024 11:03
With 5 fully funded #Helium drills scheduled this quarter for #MSMN at the Vecta #Helium Project in Las Animas, Colorado 🇺🇸, I thought it might be worth giving some context re value when compared to #HE1’s forthcoming Pegasus/Galactica JV campaign with Blue Star Helium.
Helium One & Blue Star are drilling 6 wells in the Pegasus/Galactica license on the eastern edge of the Las Animas Proven Helium Fairway (see map below). The area has seen several proven helium discoveries including Model Dome 8% He and Cynthia True 8.8% He, as well as strong showings of hydrogen.
HE1 are paying 100% of the costs in respect of six wells capped at US$450,000 per well totalling £2,700,000.
By comparison, the MSMN/Vecta approach is to drill low cost, shallow water wells at $259,000 per well. MSMN hold a 20% stake in the project so therefore their total outlay for all 5 drills is a mere $259,000. (Note that these are exploration wells to prove up the potential of the field)
As we can see from the Map (credit @StallardMichael), MSMN’s drill sites are perfectly located in and around the “Proven Helium Fairway”, with “The Bard” well only 10 miles from HE1/Blue Star’s Pegasus/Galactica license & 15 miles from the 8.8% Helium of Cynthia True.
MSMN’s “Treasure Hill” drill site is a mere 9 miles from the 8% Model Dome discovery.
For a minimum outlay & with only shallow conventional drilling needed, MSMN may well have pulled off a very astute acquisition in Las Animas, and with five bites at the Helium Cherry it could pay huge rewards.
https://x.com/redditdeluxe/status/1850491992737824956?s=46&t=IHEn1TE0c7FNFBktt6H8XQ
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