Pulsar Helium (PLSR) has successfully completed the deepening phase for the Jetstream #1 appraisal well at its flagship Topaz Project in Minnesota, USA.
On January 11, 2025, drilling reached 5,100 feet, effectively penetrating the entire interpreted helium-bearing reservoir and extending well beyond it.
Key Achievements
- Successful Deepening: Jetstream #1 reached its target depth of 5,100 feet on January 11th, 2025.
- Expanded Reservoir: Initial data supports the Company’s interpreted larger helium-bearing reservoir zone with multiple helium zones encountered throughout the deepening operation from 2,200 feet to 5,100 feet.
- Promising Helium Readings: Mud log gas levels containing up to 7.24% helium were encountered during drilling. These samples are diluted by atmospheric air due to the rotary air drilling method used and unaffected samples for laboratory analysis will be acquired in due course.
- Comprehensive Data Collection: Down-hole wireline logging data was acquired over January 11th-12th, this data will be integrated with additional downhole data that will be acquired over the coming weeks.
- Next Steps: Additional data collection, including optical televiewer, pressure, and flow testing, will be conducted after the completion of drilling of Jetstream #2.
- Jetstream #2 Preparation: The drill rig is now moving onto the Jetstream #2 pad, with spudding anticipated around January 17th, 2025.
The Jetstream #1 well had previously recorded helium concentrations of up to 14.5%. Initial data from the recent deepening indicates the potential for a larger helium-bearing reservoir, with multiple helium zones identified between 2,200 and 5,100 feet. During drilling, mud log gas levels reached as high as 7.24% helium, although these samples were diluted by atmospheric air due to the rotary air drilling method. Unaffected samples will be obtained for laboratory analysis in due course.
Additional down-hole wireline logging data was collected between January 11 and 12, and this will be combined with further downhole measurements expected over the coming weeks. Future data collection efforts—including optical televiewer deployment, as well as pressure and flow tests—are planned following the completion of drilling on Jetstream #2.
The drill rig has now shifted to the Jetstream #2 pad, with spudding anticipated around January 17, 2025.
Commenting on the success, Thomas Abraham-James, Chief Executive of Pulsar Helium, stated, “The deepening of the Jetstream #1 well has been a resounding success, exceeding our expectations and reinforcing our confidence in the Topaz Project’s potential. The expanded reservoir height and encouraging helium readings are testament to the quality of our geological model and the expertise of our team. As we move forward with Jetstream #2 and additional testing, we are increasingly optimistic about the project’s ability to contribute significantly to the global helium supply chain. This success not only validates our exploration strategy but also positions Pulsar Helium as a key player in addressing the critical demand for helium in various high-tech industries.”
Ongoing Analysis and Testing
Pulsar Helium is currently conducting a thorough analysis of the down-hole wireline logging data collected from Jetstream #1. Additional testing, including optical televiewer and pressure/flow assessments will be gathered after completion of the drilling of Jetstream #2, scheduled for early March, and will further refine the Company’s understanding of the reservoir’s properties and production potential.
Looking Ahead: Jetstream #2
Building on the success of Jetstream #1, Pulsar Helium is preparing to commence drilling operations for the step-out well, Jetstream #2. This well is scheduled to spud on or around January 17th, 2025, and is planned to reach a depth of at least 5,000 feet. Jetstream #2 will play a crucial role in delineating the characteristics of the helium-bearing reservoir and further validating the project’s potential.
