PULSAR HELIUM ANNOUNCES DRILLING HAS COMMENCED AT THE JETSTREAM #1 APPRAISAL WELL, TOPAZ PROJECT, MINNESOTA, USA
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) (“Pulsar” or the “Company”), a leading helium project development company, announces that drilling for the deepening of the Jetstream #1 appraisal well commenced at 6:00PM (central time) on January 2nd, 2025, at its flagship Topaz Project in Minnesota (“Topaz” or the “Project”). As part of this crucial phase, Pulsar plans to deepen the Jetstream #1 appraisal well by a minimum of 1,640 feet (500 metres), to a total depth of no less than 3,840 feet (1,170 metres) which is anticipated to be completed later this week. Upon completion, a series of downhole tools will be used to gather data on the well characteristics.
Highlights
• Drilling: Deepening of Jetstream #1 is underway and anticipated to be completed later this week. On site are the same Capstar crew and rig used to drill Jetstream #1 in February, 2024.
• Downhole testing: Open-hole wireline logging will commence immediately upon the completion of drilling. Flow testing will occur at a later time when the well pressure has stabilised.
• Step out well: The drill pad for the step out well, Jetstream #2, is complete and the conductor rig is scheduled to install the conductor by the end of January 8th.
Thomas Abraham-James, President & CEO of Pulsar, commented on the commencement of drilling:
“Deepening of the Jetstream #1 well has commenced and is progressing extremely well. The assessment of the full height of the previously discovered high helium concentration reservoir is a key stage in progressing Topaz. Previous drill data obtained in February 2024 indicated that we only reached the top of the reservoir and that it may extend for a further 1,640 feet. Immediately upon completion we will run down-hole tools, and I look forward to keeping the market updated with our progress.”
Strategic Significance
The Jetstream #1 appraisal well previously reached total depth (TD) of 2,200 feet (671 metres) on February 27th, 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and CO2 concentrations exceeding 70% – with the latter expected to further contribute to the project economics. The deepening of Jetstream #1 is a pivotal step in advancing Pulsar’s strategy to address the increasing global demand for helium as the Company moves another step closer to production. The deepening of Jetstream #1 will target the full height of the helium reservoir, guided by insights from recently acquired geophysical data, previous drilling data, and onsite testing.
On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director
Further Information:
Pulsar Helium Inc.
+ 1 (218) 203-5301
+44 (0) 2033 55 9889
